Oil falls as OPEC+ plans August boost, Hormuz flows rise
Business
Oil prices slid on Monday after OPEC+ said it will boost production starting in August, making some worry about too much supply in the market.
This comes just as oil exports through the Strait of Hormuz picked up again, adding even more to global supplies.
Gold near 2-week high, currencies slide
While oil dropped, gold held near a two-week high thanks to a weaker US dollar and softer jobs numbers, meaning fewer people expect more Fed rate hikes anytime soon.
On the currency side, the US dollar stayed low, Japan's yen hit its weakest point in 40 years, and South Korea rolled out 24-hour trading for its won.