Oil reserves plunge as Strait of Hormuz crisis deepens, Saudi PIF eyes $55B EA buyout

May 17
7 mins

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Episode Description

Global oil stockpiles fell by a quarter-billion barrels in just two months as the Strait of Hormuz blockade tightens, pushing inventories toward record lows ahead of summer demand. Saudi Arabia's sovereign wealth fund is closing in on a $55 billion take-private of video game giant Electronic Arts in what would be the largest leveraged buyout ever. Plus Russia loses ground in Ukraine despite record aerial bombardment, Hungary's new government ends Orbán's 16-year grip, and scientists discover fo…
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