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US emergency oil reserves hit 1982 lows as gas prices rise, pressuring Biden ahead of midterms.

27 Oct 2026, 14:45 WIB
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Bearish
US emergency oil reserves hit 1982 lows as gas prices rise, pressuring Biden ahead of midterms.

The U.S. Strategic Petroleum Reserve has dropped to its lowest level since 1982, falling by about 32% in seven months due to committed withdrawals and emergency exchanges. Meanwhile, gasoline prices under the current administration have slightly surpassed those under Biden, with diesel prices notably higher. This shrinking oil buffer raises concerns about the country's ability to handle future supply shocks and keeps crude prices elevated. The White House promises lower prices post-conflict, but political pressure is mounting ahead of the November midterms as inflation expectations rise and voter patience wanes.

The U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1982, shrinking by about 32% in seven months. For readers following energy stocks, here is Pluang's market snapshot as of Oct 27, 2026 17:43 WIB: Among 79 priced US energy-sector stocks, 37 rose and 37 fell today. Notable movers include TotalEnergies SE (TTE) at USD 92.50 with 91% sell orders, Enphase Energy Inc (ENPH) at USD 30.75 with 100% buy orders, and Baytex Energy Corp (BTE) at USD 5.46 with 95% buy orders.

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