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US Oil Reserves Hit 40-Year Low as US-Iran Conflict Drives Global Energy Crisis

US Oil Reserves Hit 40-Year Low as US-Iran Conflict Drives Global Energy Crisis

Al Jazeera·9 July 2026

The US Strategic Petroleum Reserve has fallen to its lowest level since 1983, dropping to 319.5 million barrels amid ongoing US and Israeli strikes on Iran that have sent global oil prices surging — with US petrol prices jumping from $2.98 to $4.48 per gallon since strikes began in February. The convergence of Middle East conflict, energy instability, and economic shockwaves aligns with biblical warnings that wars in the region will trigger widespread suffering affecting nations across the globe. Scripture foretells a time when economic disruption and conflict will intensify in the last days, with Revelation 6:6 describing scarcity and price inflation as a hallmark of end-times tribulation.