A grab-bag of US news paints a downbeat picture: the emergency oil stockpile is being drained to worrying levels while more gambling money floods into the country.

• The US strategic oil reserve has fallen so low that experts now worry about damage to the underground caverns that store it.
• Smarkets, a UK betting exchange with over $60 billion in lifetime trading, is applying for US licenses to run prediction markets and sports betting.
• It has filed with commodities regulators and is seeking sportsbook approval in Illinois, Iowa, and Michigan.
• Egg-freezing costs are back in the spotlight, with a single cycle running about $16,000 in the US — far more than in countries like South Korea, where the government helps pay to encourage births.

Outlook: Expect the gambling industry to keep expanding in the US, while the shrinking oil reserve leaves less cushion against future price shocks.