Gas prices are headed back up
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 July 2026
⏱️ 28 minutes
🧾️ Download transcript
Summary
President Trump called off the a ceasefire with Iran Wednesday morning, sending the U.S. back into a military conflict — and sending oil prices back up after weeks of steady cooling. In this episode, Kai calls up economist Robin Brooks at Brookings to explain how a reignited war will affect global oil markets and prices at the pump. Plus: Retailers stock up early for the 2026 holiday season, businesses surpass homes’ energy use for the first time on record, and corporations issue more shares to raise capital.
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Read the stories in today’s episode:
- Trump calls off Iran ceasefire, a move that "obviously will push oil prices up"
- Some business owners are stocking up early for the holidays
- Why public companies have been on a tear issuing new shares
- Businesses are using more electricity than homes for the first time on record
- What the energy shock means for the decarbonization industry
Transcript
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| 0:00.0 | For decades, companies built their procurement and supply chains around cost and efficiency. |
| 0:05.7 | Today, that's no longer enough. |
| 0:08.1 | Wars, trade conflicts, and the regionalization of trade have changed the rules. |
| 0:13.2 | Companies still need to control costs, but they also need to reduce risk and respond faster to disruptions and shocks. |
| 0:20.6 | GEP helps the world's leading enterprises do exactly that. |
| 0:24.8 | Through its AI-native quantum intelligence platform and services, |
| 0:28.8 | GEP helps companies gain visibility, predict and manage risk, |
| 0:32.9 | and make smarter capital investments across their global value chain. |
| 0:36.6 | More than 7,000 employees across |
| 0:39.1 | 30 offices support over 1,000 organizations worldwide. GEP combines agentic AI with three |
| 0:46.6 | decades of procurement and supply chain data and expertise. Learn more at gEP.com. |
| 0:55.5 | That ceasefire that wasn't really a ceasefire? |
| 1:00.5 | Well, it's over and the economy would like a word. |
| 1:05.6 | From American public media. |
| 1:08.0 | This is Marketplace. |
| 1:19.1 | Music media. This is Marketplace. In Los Angeles, I'm Kai Rizzdahl. It is Wednesday. Today, this one's the 8th of July, |
| 1:24.6 | good as it always is, to have you along, everybody. The president is on his way back from that NATO summit in Turkey. Before he left, though, |
| 1:32.3 | he did say the ceasefire was over. And both sides, according to reporting as of this moment, |
| 1:38.7 | are shooting at and or bombing each other. And for those of us, for whom the economy is our concern, I mean, |
| 1:47.1 | here we go again. We've gotten Robin Brooks back on the phone to talk things over. He is a |
| 1:51.1 | senior fellow at the Brookings Institution. Robin, thanks for answering the phone when we called. |
| 1:57.2 | Yeah, of course. Great to be with you, Kai. Last time we had you on talking about the subject at hand, you said at one point in that conversation, you know, I think traders have to get their risk premium realigned. |
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