As tensions rise in the Middle East, local drivers might soon feel the pinch at the pump. Patrick DeHaan let's us know what's happening with oil prices.
Oil prices have been very dossal to start 2026. In early Tuesday trade, both West Texas Crude and Brent Crude were trading slightly higher; at $60 and $64 per barrel respectively.
For the past several weeks, even several months, oil prices have held fairly steady, remaining in the mid-$60 per barrel range. But, thanks to OPEC’s increased production, that trend is no more.
Oil prices really can’t determine where they want to go. Oil prices fell Friday as many traders looked toward weaker demand in the United States, as well as an anticipated boost in supply in the coming months thanks to OPEC.
Oil prices moved higher in Monday’s trade, spurred primarily by OPEC’s recent announcement that it would increase production next month by over 400,000 barrels. While that is a hefty increase, Patrick DeHaan with Gasbuddy.com said the announce...