Oil prices near monthly highs on geopolitical tensions
Oil prices are staying close to their monthly highs as political drama ramps up worldwide.
Brent crude is at $69 a barrel, and WTI sits near $66.
The big drivers? Possible new US sanctions on Russia, with President Trump keeping a close eye on efforts to set up a meeting between Russia and Ukraine, plus the upcoming OPEC+ meeting expected this weekend.
US-China trade war fallout
The US just hiked tariffs on Indian goods to 50% because India's been buying Russian oil—while China isn't facing those penalties.
At the same time, Ukrainian attacks on Russian energy sites and more US Navy ships near Venezuela are making folks nervous about oil supplies.
Venezuela's president even accused the US of trying to mess with their crude exports.
OPEC+ meeting this weekend
OPEC+ has been slowly undoing earlier cuts.
At their meeting this week, they're expected to keep output steady—trying to balance rising oil from places like the US, Brazil, and Canada without flooding the market or creating a surplus.