Oil prices are basically flat right now
Oil prices are basically flat right now, with traders weighing supply risks from conflicts and new trade tariffs.
The ongoing fighting in Gaza has shut down hospitals, and Ukraine is stepping up drone strikes on Russian energy sites—both adding to worries about how oil gets around the world.
EU's Russian LNG ban and NATO's airspace violation concerns
The EU just moved up its ban on Russian liquefied natural gas (LNG), aiming to put more pressure on Russia.
This comes as NATO calls out Russia for airspace violations over Estonia and Poland, making the geopolitical situation even messier—and oil markets more jittery.
Saudi Arabia's oil exports hit a 4-month low in July
Saudi Arabia's oil exports hit a four-month low in July, potentially tightening supply.
Iraq is pumping out more to help balance things under OPEC+ agreements.
Brent crude is trading near $66.56 a barrel
Brent crude is trading near $66.56 a barrel, but with all these moving parts—conflicts, sanctions, changing exports—prices could shift again soon.
If you're curious about how world events quietly shape everything from gas prices to your daily commute, this is one story worth following.