Oil prices dip after Monday's surge—here's what's up
Brent crude oil dropped to $61.73 a barrel on Tuesday, easing slightly after Monday's spike that followed inconclusive Russia-Ukraine peace talks—even with the US trying to help out.
Meanwhile, China is snapping up more oil than ever, hitting a record 12.2 million barrels per day as it rebuilds its reserves.
Why should you care?
Oil prices are bouncing around not just because of global politics—recent US strikes on ISIS in Nigeria also played a part.
But even with these shake-ups, experts think prices will mostly stick between $60 and $67 per barrel next year thanks to oversupply.
With the Energy Information Administration delaying key data and Brent crude has fluctuated significantly this year, investors are watching closely to see how all this drama could affect what we pay at the pump and beyond.