Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › World News › US Oil Reserve Hits 43-Year Low as Trump Tries to Limit...
World News

US Oil Reserve Hits 43-Year Low as Trump Tries to Limit Iran Fallout

US Oil Reserve Hits 43-Year Low as Trump Tries to Limit Iran Fallout
Bloomberg Markets Monday 15 June 2026, 18:59 UTC 1 min read
Key Points

Jun 15th, 2026 US Oil Reserve Hits 43-Year Low as Trump Tries to Limit Iran Fallout Bob McNally, president of Rapidan Energy Group, said that countries across the world are going to up their demand for oil to fill strategic reserves depleted by conflict in Iran and the closure of the Strait of Hormuz. McNally said that demand in Asian countries like China will be higher than before, because of the crude 'crash diet' the region was on without access to oil supply chains.

Jun 15th, 2026 US Oil Reserve Hits 43-Year Low as Trump Tries to Limit Iran Fallout Bob McNally, president of Rapidan Energy Group, said that countries across the world are going to up their demand for oil to fill strategic reserves depleted by conflict in Iran and the closure of the Strait of Hormuz. McNally said that demand in Asian countries like China will be higher than before, because of the crude 'crash diet' the region was on without access to oil supply chains. [Image text:] Srgnin RAPIDAN ENERGY GROUP Bob McNally Rapidan Energy Group President & Founder USOILRESERVEHITS43-YEAR LOW Bloomberg 92.9FM Boston AS TRUMPAIMS TOTAME GASPRICE
US Oil Reserve Hits (ORG) Trump Tries (ORG) Fallout Bob McNally (PERSON) Rapidan Energy Group (ORG) Iran (LOCATION) the Strait of Hormuz (LOCATION) McNally (PERSON) Asian (ORG) China (LOCATION)
Originally published by Bloomberg Markets Read original →

Related Stories

Dan Sullivan Namesake Is Disqualified From Alaska Senate Ballot

Alaska’s director of elections ruled Monday that Dan J. Sullivan must be removed from the ballot for Alaska’s Senate race. The decision can be appealed to a state court.

New York Times 4m ago

U.S. and Iran Sign a Framework Deal, Leaving Major Issues for Future Talks

President Trump with President Emmanuel Macron in Évian-les-Bains, France, on Monday for the Group of 7 summit. Mr. Macron called the agreement with Iran “a very important step toward peace.”

NYT World 5m ago

EPA investigates fish kill after major fuel spill on NSW South Coast

EPA investigates fish kill after major fuel spill at Budgong on NSW South Coast Tue 16 Jun 2026 at 6:37am In short: The NSW EPA is investigating a fish kill at the site of a major fuel tanker spill in Budgong, west of Nowra. Ecologists have recorded dozens of dead fish and eels near where 2,500 litres of fuel were spilled on June 6. Shoalhaven City Council says it will take enforcement action against the company allegedly responsible.

ABC Australia 13m ago

US won't move troops despite 'signed' Iran deal, as doubts linger over Tehran's next move

The Trump administration will keep its military buildup in the Middle East in place despite signing a new agreement with Iran, underscoring Washington's continued distrust of Iran as the two sides enter a 60-day negotiating period. "The plan is to keep the current force posture during the 60-day negotiations," a senior U.S. official told reporters on a call Monday. "We hope to draw them down, but we're not doing that yet.

Fox News 16m ago