As OPEC plans a major production increase, Trump touts falling fuel costs—but US oil producers warn of job cuts, rig shutdowns, and a reversal of America’s energy boom.

WTI crude oil futures dipped lower from a two-week high after weekly oil inventories data indicated an unexpected rise in crude oil stocks. The American Petroleum Institute

Oil prices soared following an agreement between the United States and China to slash tariffs, leading to increased optimism in global trade and the economy.

Gas prices, though having risen slightly while oil prices continue to fall to prices not seen since 2021, could begin to dip downward despite the summer travel season.

Oil dropped after OPEC+ agreed to another large output increase, raising concern that additional supply could lead to a global glut just as the trade war threatens demand.

U.S. crude oil futures fell more than 2% on Monday, after OPEC+ agreed to surge production for a second month.

LONDON (Reuters) - Oil prices tumbled over 2% on Monday after oil producing group OPEC+ agreed to accelerate oil production increases, while Taiwan's dollar surged to almost three-year highs at the start of a central bank-packed week for world markets.

MALAYSIA's palm oil stocks jumped to their highest level in six months in April, as production surged to a decade-high for the month while local consumption dropped, data from the industry regulator showed on Tuesday.