Key Takeaways SPR falls below 300M barrels, raising concerns over future energy security.Oil ETFs could gain if depleted reserves lift crude's geopolitical risk premium.USO, DBO, XLE and OIH could be impacted by sustained higher oil prices.The U.S. Strategic Petroleum Reserve (SPR) has entered uncertain territory as emergency oil releases linked to the Iran war push inventories below 300 million barrels. This incident is raising concerns about America’s ability to respond to an energy shock.The U.S. Departm ...