WASHINGTON : The decline reflects continued pressure on the country’s largest emergency oil stockpile amid energy market volatility and ongoing geopolitical tensions.

The latest reduction is part of a strategic reserve withdrawal programme that has released about 172 million barrels into global markets in an effort to support supply levels and help stabilise oil prices.

Data showed that SPR inventories have dropped by around 104.04 million barrels since the end of February, coinciding with the impact of heightened geopolitical tensions, including the repercussions of the US-Israeli conflict with Iran, through July 17.

The US Department of Energy is expected to release its latest official inventory data on Wednesday, providing further insight into stock levels and supply trends in the world’s largest oil-consuming economy.

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