According to data from the US Department of Energy, crude oil stocks in US strategic oil reserves fell to 282.2 million barrels last week, the lowest level since October 1982. The recent drop in inventories is part of a US deal to release 172 million barrels of crude oil. The US government said last week that oil companies have agreed to borrow about 40 million barrels of crude oil from strategic oil reserves, the last batch of US shares in a global agreement aimed at controlling fuel prices. The agreement was reached after the United States and Israel went to war against Iran.

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