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President Joe Biden speaks about his administration's plans to protect Social Security and Medicare and lower healthcare costs at the University of Tampa in Tampa, Fla., on February 9, 2023.

AP Photo/Patrick Semansky

  • The US is "playing with fire" as its oil reserves drop to a 40-year low at a time when crude prices are surging, Larry McDonald warned in a post on X. 
  • "Queasy, indeed..." the markets guru wrote in a previous post illustrating falling US strategic petroleum reserves. 
  • The Biden administration has been draining the SPR since the start of the Ukraine war to help cap energy prices. 

The US is "playing with fire" as its oil reserves plunge to a 40-year low at a time when global crude prices are rallying again, markets guru Larry McDonald said. 

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Markets, mi-exclusive, Markets, Biden, biden-administration, Oil, strategic-petroleum-reserve, rising-oil-prices, Inflation, Fed, us-economy-and-markets, inflation-risks, energy-security, oil-inventories, crude-oil-inventories, economy
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The US is 'playing with fire' as oil reserves plunge to a 40-year low, markets …