US strategic oil reserves drop below 300M barrels to 298.7M

Oil reserves in the US strategic petroleum reserve have dropped below 300 million barrels, reaching 298.7 million. This is the lowest level since 1983. Before the US and Israel strikes on Iran in late February, reserves stood at around 415 million barrels. Against this backdrop, diesel futures in the US rose 7.4%, and diesel refining margins in Europe increased by nearly 10%.