US oil reserves face severe strain and pump prices hit records
Depleted US oil reserves raise structural concerns amid high gas prices, while severe flooding hits Indiana.
- US oil reserves are low enough that storage caverns could potentially be damaged
- National average gas prices hit a mid-August record of $4.07 per gallon
- Five people died in Indiana due to severe flooding and Gov. Mike Braun requested a presidential emergency declaration
Sources
- The Independent — US oil reserves are so low amid Trump’s Iran war the caverns holding them could be damaged
- The Independent — Five dead in Indiana as ‘once-in-a-lifetime’ flooding swallows homes - and water ‘is still rising’
- CNBC — Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations