U.S. oil inventories fall to a 22-year low
6/4/202625 min
Oil inventories have fallen drastically since President Trump launched the war against Iran. But it’s not because we’re suddenly using more fuel. Instead, the U.S. is exporting much more oil than usual — to places that can’t get enough with the Strait of Hormuz blocked. All this will have knock-on effects for oil prices in the U.S. for months to come. Plus: Investors want to yank more money from private credit firms, your social media algorithim is likely full of “stealth ads,” and we visit the elk antler market in Jackson Hole, Wyoming.
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Kai Ryssdal· Host0:23
[upbeat music] Oil, private credit, and elk antlers. Seriously. From American Public Media, this is Marketplace. [upbeat music] In Los Angeles, I'm Kai Ryssdal. It is Thursday today, the fourth day of June. Good as always to have you along, everybody. Here's a little choose your own adventure as we get started today. According to AAA, regular gas right now, this is a national average, is $4.24 a gallon. That is, depending on which adventure you choose, either down more than 18 cents from a week ago and/or nearly a buck 10 more than we were paying a year ago. We all know why, I imagine, but the ramifications aren't always clear. The United States is exporting more of the oil that is produced here to make up for some of that missing Persian Gulf supply, 'cause it's a global market, right? But that,