Oil Prices Near 2-Week Highs On OPEC+ Output and U.S. Tariffs

Oil prices climbed Tuesday, hovering near two-week highs as markets absorbed the impact of a larger-than-expected OPEC+ production increase and ongoing uncertainty around US trade policy. As of mid-afternoon, Brent crude was up 89 cents at $70.47 per barrel, while US West Texas Intermediate rose 80 cents to $68.73. Both benchmarks are on track for their highest close since June 24. OPEC+ on Saturday approved a 548,000 barrel-per-day (bpd) production hike for August, outpacing the 411,000 bpd monthly increases seen earlier this summer. The move…