US OIL RESERVES HIT LOWEST LEVEL SINCE 1982

The US Strategic Petroleum Reserve fell another 300,000 barrels last week to 282.7 million barrels, the lowest level since 1982, according to EIA data. The stockpile has dropped 32% since March, when it held 415.4 million barrels, as Washington keeps draining reserves even as Middle East tensions push oil prices higher. Energy names in the $XLE complex face a shrinking safety net just as supply risk rises.