U.S. Oil Buys & Home Depot’s Demand Problem 5/16/23

In DC, the Senate Banking Committee is prepared to hear testimony from former Silicon Valley Bank and Signature Bank executives. Senator J.D. Vance (R-OH) shares his concerns about regulator oversight in the regional banking crisis, and he weighs in on the debt ceiling showdown. White House energy advisor Amos Hochstein discusses the administration’s newly announced plans to buy three million barrels of oil to replenish the U.S. Strategic Petroleum Reserve. Plus, the U.S. Virgin Islands issued a subpoena to Elon Musk in connection with the Jeffrey Epstein lawsuit, and Home Depot’s rough quarter is weighing on the Dow.  In this episode:Amos Hochstein @AmosHochstein Sen. J.D. Vance, @JDVance1Eamon Javers, @EamonJaversJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.