Author: Marketplace

From the BBC World Service: The price of Brent crude oil has fallen to $69 a barrel, despite a statement from Israel saying that it has identified missiles launched from Iran earlier this morning, something Iran has denied. Israel had announced it had agreed to a U.S.-brokered ceasefire with Iran earlier today, causing the oil price to drop 15% from a high of $81 a barrel yesterday. Plus, Google comes under pressure and a tariff deadline looms.

Iran's government knocked out internet and mobile networks after Israel began bombing the country. That’s left the population with little to no access to critical information. One person who watched this played out is Ahmad Ahmadian, executive director at Holistic Resilience, an organization that helps Iranians circumvent government censorship. He says Iran's government often restricts internet during critical times.

After launching air strikes on Iranian unclear facilities over the weekend, President Trump posted to Truth Social, demanding that U.S. oil firms “drill, baby, drill.” Although ongoing conflict in the Middle East could balloon oil prices, it’s unlikely that domestic producers are racing to ramp up production just yet. Also in this episode: Renting may be more appealing than buying right now, Treasury auctions see stability, and tariffs threaten the success of a Wyoming trona mine.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Oil markets went into a state of panic after the United States launched strikes on Iranian nuclear facilities over the weekend, stoking fears that Iran could retaliate by closing the Strait of Hormuz. But Iran’s control over the key oil trade route may not be the economic weapon many think it is. We’ll explain. And, several provisions in the Republicans’ reconciliation bill haven’t made it through the so-called “Byrd Bath” and risk being axed from the legislation. Plus, did you know killer whales aren’t really whales?

Here’s everything we talked about today:

• "Capitol agenda: How Johnson may block an Iran rebuke" from Politico 
• "11 days until July 4: Byrd Bath and policy fights on deck" from Punchbowl News
• "Senate parliamentarian rejects GOP attempt to authorize states to conduct immigration enforcement" from The Hill
• "G.O.P. Can’t Include Limits on Trump Lawsuits in Megabill, Senate Parliamentarian Rules" from The New York Times  
• "Iran Has an Oil Card to Play. So Does the U.S." from The Wall Street Journal  
• "The largest digital camera ever built has released its first shots of the universe" from AP News  
• "Vera C Rubin Observatory first images" from BBC Sky at Night Magazine  
• "Killer whales seen grooming each other with kelp in first for marine tool use" from The Guardian 

Got a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Last week, a listeria outbreak linked to ready-to-eat meals sold at Walmart and Kroger led to hospitalizations and three deaths. Major DOGE cuts targeted administrative and communications staff at food safety agencies, and some experts worry there could be further weakening of America's food safety systems. We'll hear more. But first: We'll give an update on oil markets and the Middle East, and learn about the work left to do on the big tax and spending bill.

In the wake of President Donald Trump’s decision to bomb Iranian nuclear facilities and the continuation of missile exchanges between Iran and Israel, stock, bond, and oil markets are in a holding pattern. This morning, we'll unpack how financial markets are responding to war headlines. Plus, the big tax and spending legislation includes a ban on state AI regulation and would override more than 100 local laws already on the books.

From the BBC World Service: We're tracking volatility in global oil prices following U.S. attacks on Iran over the weekend. There's a renewed focus on a key oil transport waterway, the Strait of Hormuz, which Iran’s parliament voted to shut down. U.S. Secretary of State Marco Rubio has also called on China to influence the situation there. Plus, the Spanish city of Seville carried out a pilot project naming heat waves to raise public awareness and better prepare local economies.

In California, the state Senate has voted in favor of a so-called AI Bill of Rights, which would establish new guardrails around automated decision systems. To learn more about them, Marketplace’s Nova Safo spoke with Kate Brennan, associate director of the think tank AI Now Institute.

In the “tariffs the Trump administration has announced and actually put into long-term effect” category? A 25% tax on some automotive parts. In this episode, we visit an auto repair shop in Vermont where unexpected price increases are affecting business. Plus: Cities invest in revitalized waterways as recreational moneymakers and the Philly Fed reports manufacturing employment slumped in the region.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

This week, we’ve looked at the budget reconciliation bill and its effects on student debt, taxes, health care and social programs. The bill is currently moving through the Senate. Today, we discuss the reconciliation bill and the national deficit. And we dig into other proposals such as AI regulation ban and private foundation taxes. Plus, we play a special budget round of Half Full/Half Empty.

Here’s everything we talked about today:

• “AI moratorium sparks GOP battle over states’ rights” from The Hill
• “Introduction to Budget “Reconciliation” from The Center on Budget and Policy Priorities
• “One, Big, Beautiful Bill: Impact on Philanthropy” from Council on Foundations
• “Senate Judiciary Unveils Its Own Plan To Curtail Court Orders” from CATO Institute
• “Parliamentarian rulings would kill key climate provisions in GOP megabill” from Politico

Got a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.