First the US has depleted its weapons stockpiles which will take years to rebuild.

Now they have sold off their oil at premium prices and the country has not benefited from the profits gained – but somebody has.

Oil markets reaching ‘unheard-of inventory levels’: ExxonMobil executive

Senior VP Neil Chapman says supplies may only hold off bigger price shocks for a matter of weeks

FILE: ExxonMobil senior vice president Neil Chapman speaks to the media after a meeting with Cyprus’ president Nicos Anastasiades at the presidential palace in capital Nicosia, Cyprus, Friday, 5 October 2018. Photo: AP/SCANPIX

• Robert Stewart

• North America Energy Correspondent
• Baton Rouge

Energy Security

Published 28 May 2026, 21:27

Global markets are quickly reaching “unheard-of inventory levels” of crude oil as nations and companies continue to draw from reserves to tame energy shocks from the Middle East war, a top ExxonMobil executive said Thursday

https://www.upstreamonline.com/energy-security/oil-markets-reaching-unheard-of-inventory-levels-exxonmobil-executive/2-1-1996440?zephr_sso_ott=XbRY06

Not worried about an oil shock? Chevron CEO, other energy execs sure are.

Story by Avi Salzman

 

With the Philippines in an energy emergency, motorists line up for gas in Metro Manila. By next month, the pain could hit Europe as the world experiences rolling supply disruptions.© Jam STA ROSA / AFP via Getty Images

An uncomfortable reality settled in this past week: There is no clear way to return the energy industry to its pre-Iran War state anytime soon. High oil prices look like they’re here to stay and could stretch into 2027.

https://www.msn.com/en-us/money/markets/the-oil-shock-is-here-to-stay-energy-bosses-brace-themselves/ar-AA1Zw6qy

It was always Trump’s plan:

Trump wants to sell 1 million barrel reserve of diesel fuel

By Ari Natter, Nathan Risser, and BloombergJune 2, 2025, 1:10 PM ETAdd us on

The Trump administration wants to put a 1 million barrel cache of diesel fuel on the market, saying the reserve meant to provide an emergency supply of home heating oil for the Northeast has never been used for its intended purpose.SAUL LOEB/AFP via Getty Images

he Trump administration wants to put a 1 million barrel cache of diesel fuel on the market, saying the reserve meant to provide an emergency supply of home heating oil for the Northeast has never been used for its intended purpose. 

https://fortune.com/2025/06/02/trump-gas-energy-barrel-reserve-diesel-fuel-sale/

Iran war: Trump will release 172 million barrels of oil from Strategic Petroleum Reserve

Published Wed, Mar 11 20264:34 PM EDTUpdated Wed, Mar 11 20267:44 PM EDT

Spencer Kimball@spencekimball

Key Points

• The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve, according to Energy Secretary Chris Wright.
• Gasoline prices in the U.S. have risen to about $3.58 per gallon on average as the Iran war has triggered a massive disruption of global oil supplies.
• The International Energy Agency agreed Wednesday to release 400 million barrels of oil to address the supply disruption.

https://www.cnbc.com/2026/03/11/iran-war-trump-oil-strategic-petroleum-reserve.html

May 30th 2026

US Strategic Petroleum Reserve nears 40-year low amid Iran crisis

Story by Djamila Lazri

 • 1d

| Canva© Econostrum USA/ Worldwide

The United States’ emergency oil stockpile, theStrategic Petroleum Reserve (SPR), is being drawn down at an unprecedented pace as global energy markets reel from the war in Iran. President Donald Trump has released crude from the reserve faster than any previous administration, leaving the SPR near its lowest levels since the early 1980s.

https://www.msn.com/en-us/money/general/us-strategic-petroleum-reserve-nears-40-year-low-amid-iran-crisis/ar-AA24q30x

US crude oil tanker makes landmark delivery to Japan

910,000 barrels of US-produced crude from Texas arrives in Tokyo Bay after 35-day voyage

Last updated: April 27, 2026 | 02:39

Jay Hilotin, Senior Assistant Editor

https://gulfnews.com/business/energy/us-crude-oil-tanker-makes-landmark-delivery-to-japan-1.500520107