Oil prices dropped a lot this week! This is because of some big news about oil production and trade. It's like when your favorite toy goes on sale – the price goes down, and more people might buy it.
- OPEC+, a group of countries that sell oil, decided to make more oil. This means there will be more oil available.
- The U.S. put taxes (tariffs) on goods from Canada, Mexico, and China. These taxes make things more expensive.
- China also put taxes on some American goods. This is called a trade war!
| Oil Type | Price Change |
|---|---|
| Brent Crude | Down $0.58 (0.8%) to $71.04 |
| WTI Crude | Down $0.11 (0.2%) to $68.26 |
Some experts think the oil price might go even lower because of these things. But things could also change.
