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U.S. Strategic Petroleum Reserve hits lowest level since 1983 while oil prices surge

  • Crude oil prices have climbed back above $100 per barrel as the conflict with Iran escalates.
  • The U.S. is tapping its Strategic Petroleum Reserve down to 40-year lows to try to blunt the economic impact.
  • That likely raises the chance of higher gas and heating costs — a tangible worry for everyday bills.
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