US Strategic Petroleum Reserve Falls to 282.6 Million Barrels, Lowest Since 1982

United States Strategic Petroleum Reserve stockpiles fell to 282.6 million barrels, reaching their lowest level since October 1982, according to the Department of Energy. The emergency reserve has dropped about 133 million barrels, or 32%, between March and October as part of a broader 172 million barrel commitment and emergency releases. The DOE also approved a 400,000-barrel release for Phillips 66's Lake Charles refinery. Amid the reserve depletion, Brent settled at $115.81 per barrel and WTI at $101.76, while national retail gasoline traded between $3.472 and $4.2858 per gallon.