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Mario Nawfal: U.S. oil reserves at lowest level since 1982 after emergency crude inventories fall

Mario Nawfal: U.S. oil reserves at lowest level since 1982 after emergency crude inventories fall
U.S. oil reserves lowest since 1982

America's emergency crude oil inventories have dropped to 282.7 million barrels, the lowest level since October 1982.

Mario Nawfal, founder and CEO of IBC Group, reported that this decline accompanies a White House plan to release 172 million barrels in an effort to address oil market conditions.

Nawfal previously relayed a warning that Iran's economy could collapse within two weeks as oil deliveries to China conclude. In a separate report, he revealed that a California executive lost over $100 million in risky financial bets. These developments have been covered in his recent market commentary.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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