How Key Oil Stockpiles Dwindled During the War in Iran NYT > Top Stories By: Rebecca F. Elliott · Paul Abowd · Jon Miller · Edward Vega · Rafaela Balster · June Kim and Leanne Abraham 28 August 2026 at 17:15 Our energy reporter Rebecca F. Elliott explains how oil reserves helped prevent an oil shock caused by the war in Iran from getting even worse — and how low those reserves are now.