Oil prices rose as a result of the collapse of the American-Iraqi agreement and strategic oil reserves fell below 300 million barrels

On Monday, oil prices rose, with hopes dashed by the agreement between Washington and Tehran, while the United States strategic oil reserves fell below 300 million barrels, the lowest level since the 1980s. According to Ministry of Energy data, the strategic oil reserves were reduced by 6.1 million barrels in August, to 298.7 million barrels. The United States, like other countries, is releasing stocks of crude oil to compensate for supply disruptions caused by the Middle East war, and in March the Trump Government ordered the release of 172 million barrels to stabilize the global market. On Monday, the international benchmark Brent crude oil and the United States benchmark WTI crude oil futures price increased by more than 4 per cent, again exceeding $85 and $80 per barrel, respectively. The rise in oil prices occurred on Sunday, according to Trump, after the United States was conducting “low-key” negotiations with Iran to try to open up more traffic through the Strait of Hormuz, a key oil road. “We are only negotiating with them half-heartedly, and we are only concerned about the huge inflation in Iran and the fact that they have no money。