Brent $72.29, US $68.84 as OPEC+ plans August output boost
Business
Oil prices are creeping higher again: Brent crude is now at $72.29 a barrel, with US oil close behind at $68.84.
This bump comes as OPEC+ (think: big oil-producing countries like Russia) announced they'll pump out even more oil starting in August, trying to balance things after recent Middle East tensions and production changes.
Saudi Arabia slashes Asia oil $11/bbl
Saudi Arabia just made a bold move by slashing its August oil price for Asia by $11 per barrel, the biggest monthly drop in more than 20 years.
With ongoing U.S.-Iran tensions still making markets jittery, everyone's watching to see if demand from China picks up, which could end up steering where prices go next.