The Indicator from Planet Money A lot of gas trapped, oil reserves tapped, and Live Nation gets a (tiny) cap
23 snips
Mar 13, 2026 
Sarah Gonzalez, Planet Money reporter who covers energy markets on the ground. She explains how huge oil flows through the Strait of Hormuz were halted and what that did to gasoline prices. She walks through the IEA’s 400 million-barrel release and how strategic reserves differ from OPEC supply. The episode also breaks down a new 15% cap on Live Nation’s service fees.
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Strait Of Hormuz Blockage Cuts A Fifth Of Global Oil
- Global oil flow through the Strait of Hormuz halted represents about 20% of daily world oil supply.
- Darian Woods explains ~20 million barrels per day were stopped, causing roughly a 20% monthly rise in gasoline prices to about $3.58/gallon.
U.S. Production Doesn’t Shield Domestic Prices
- High U.S. oil production and energy efficiency don't fully insulate the U.S. from global price shocks.
- Darian Woods notes oil is a global commodity sold at world prices, so disrupted supply abroad pushes domestic prices up.
Use Strategic Reserves Only As A Temporary Price Buffer
- The IEA coordinated release of reserves is intended to ease prices but is only a temporary buffer.
- Sarah Gonzalez calculates 400 million barrels equals about 20 days of the 20 million barrels/day lost through Hormuz.