Crude oil prices fall further: Check today's rates
Oil prices slid on Monday, with Brent at $66.07 and WTI at $63.30 per barrel—both continuing last week's downward trend.
The drop comes as new US tariffs, more oil from OPEC, and hopes for a Ukraine ceasefire all put pressure on the market.
US tariffs and Trump-Putin meeting impact prices
The recent US tariffs are making imports pricier and slowing economic growth, which means less demand for oil overall.
Plus, an upcoming Trump-Putin meeting has people watching for possible changes to Russian oil sanctions that could affect supply.
US inflation data on August 12 to influence market
Everyone's now waiting for US inflation numbers out August 12—they'll help decide if the Fed cuts interest rates soon or not.
Lower inflation might boost oil demand if rate cuts come early; higher inflation could do the opposite and keep prices under pressure.