US Strategic Petroleum Reserve logs record 8.6M-barrel weekly drawdown — 7 consecutive weeks of decline!

The US Strategic Petroleum Reserve shed approximately 8.6 million barrels last week, the largest single-week drawdown ever recorded, extending a streak of seven consecutive weeks of decline. The SPR, which serves as the nation's emergency crude buffer, has been under sustained pressure as the administration taps reserves to manage domestic energy prices and supply chain stress.

The scale of the drawdown is the part markets will focus on: a record weekly release signals either acute supply-side strain or an aggressive policy push to cap pump prices ahead of politically sensitive periods — neither reading is comfortable for energy markets. With the SPR already at multi-decade lows following prior release cycles, the remaining buffer is shrinking toward levels that limit future policy flexibility.

For macro watchers, persistent SPR depletion without a corresponding drop in retail energy…