Big news about oil prices! Oil is getting more expensive. This is because of some decisions made by the US government and things happening in other countries.
- The US might put taxes on oil from Canada.
- The US stopped a company, Chevron, from getting oil from Venezuela.
- There's a war in Ukraine, and that's affecting oil too.
- A group of countries that sell oil might not increase how much oil they sell.
| Thing | Number/Fact |
|---|---|
| Price of oil (West Texas) | Went up, above $70 per barrel |
| Price of oil (Brent) | Went up, above $73 per barrel |
| US tax on Canadian oil | Maybe 10% |
| Impact on US gas prices | Possibly up by about $0.04 per gallon |
