US emergency oil reserves tumble to lowest since 1984

US emergency crude oil stocks fell 8.4 million barrels last week to 434.1 million barrels, their lowest since October 1984, according to US Department of Energy (DOE) data released on Monday, Report informs, citing Reuters.

The release from the Strategic Petroleum Reserve (SPR) in the week ended September 9 was the steepest draw since May. It comprised of about 6.3 million barrels of sweet crude and around 2 million barrels of sour crude.