AAA Daily Fuel Gauge Report for Friday, 6/04/21

American Dollar to Canadian Dollar = 0.730693; American Dollar to Chinese Yuan = 0.136697; American Dollar to Euro = 1.058834; American Dollar to Japanese Yen = 0.006669; American Dollar to Mexican Peso = 0.054446.

Crude oil prices rose but backed away from multi-year highs on Wednesday after U.S. government data showed an increase in fuel inventories and a falloff in refining activity. A broad, global market rally, including stocks, has also been fueling investment into crude oil futures, but analysts warned of possible overheating. U.S. crude inventories fell 4.9 million barrels last week, more than the 3.9-million decline forecast, but bigger-than-expected builds in gasoline and fuel stocks offset that drawdown, the Energy Information Administration reported. Click Read More below for additional information.

This week the American Postal workers Union (APWU) launched a national advertising campaign to alert the public about proposed plans to privatize the public Postal Service. The ad called “Memo” highlights a document sent by Wells Fargo Equity Research to investors detailing how proposed plans by the White House to privatize postal services would lead to the closing of local post offices, skyrocketing price hikes to send a letter or package, and an end to the “Universal Service Obligation” where mail is delivered six and sometimes seven times a week to 169 million addresses.