US oil stocks at their lowest since 2004

In the United States, stocks of crude oil and petroleum products stand at 1.57 billion barrels, the lowest level since 2004. Since the start of the war in the Gulf, the United States has acted as the oil supplier of last resort, with exports rising sharply (+40%). US gasoline prices have climbed 50% since the war began, and the US administration has agreed to tap its strategic reserves, committing to sell 172 million barrels on the market. Analysts believe crude could reach $200 a barrel this summer if shipping through the Strait of Hormuz does not resume quickly.