America's Oil Reserves Fell Sharply Last Week — Here's Why It Matters

America's stored oil dropped 7.2 million barrels to 404.5 million in the week ending July 24, 2026, government data showed July 29 — far more than analysts Reuters surveyed expected. It reverses the prior week's 2-million-barrel rise. Whether supplies are genuinely tightening or it's just shipping timing amid Strait of Hormuz disruptions is unclear.