“Our U.S. Strategic Reserve is down nearly 1983 type levels… With energy reserves being depleted, I would not be surprised if oil prices spike back up” said Robert Wolf. 

While oil and inflation indices remain lower than predicted amid the ongoing Iran war, the Special Report panel warns the cushion is fading. The U.S. Strategic Petroleum Reserve has plummeted to 1983 levels after massive emergency injections, raising fears of a sudden price spike as global inventories run dry.