What’s going on here?

A key measure of oil prices rose above $90 a barrel for the first time since November, as major oil-producing nations extended their supply cuts.

What does this mean?

In a bid to prop up oil prices, Saudi Arabia and Russia are keeping their oil taps turned down a bit. The countries just extended their production cuts until December, which means they’re pumping out less oil than they could. And that’s a decision that caught many off guard: investors had already been bracing for a bit of a squeeze in supply, especially with some key countries producing less oil and Saudi Arabia making extra cuts back in July. But this mega-lengthy cut means the pinch might be even tighter than expected. As a result, Brent oil, a global price benchmark, has jumped to its highest level in ten months. And it’s not just oil feeling the heat: the Energy Select Sector SPDR Fund, which keeps tabs on big energy players, has also seen a boost.

Why should I care?

For you personally: Higher prices at the pump.

When oil prices rise, so does the cost of gasoline. And that’s bad news given that we’re currently at an average of $3.80 per gallon, nearing the dreaded $4 mark. That’ll only add to the cost of living for regular folk – which doesn’t bode well for President Biden, as rising gas prices can be a seriously sore spot for voters.

The bigger picture: The specter of stagflation.

Rising oil prices can fan the flames of inflation, driving the cost of everyday items skyward. And if inflation keeps climbing, central banks might hike up interest rates further, making borrowing more expensive. That could lead to a nightmare scenario: stagflation, where we see stagnant growth paired with high inflation. But it’s not all gloomy. The economy has shown resilience so far, and there’s been some solid evidence that other components of inflation might actually be cooling down.

What’s going on here?

Universal Music is rewriting the playbook of the streaming game in a new deal with Deezer.

What does this mean?

The way streaming money is paid out has been a source of frustration among music companies and musicians: current streaming models treat every play equally, whether it’s Taylor Swift or the chirping of crickets. And that system dilutes the earnings of major artists, while inadvertently boosting low-quality or even deceptive tracks. But here’s the twist: Universal is introducing a revamped model in collaboration with French streaming service Deezer. This doubles the weight that professional artists – those who clock up at least 1,000 listens a month – receive when calculating royalty payments. And if a listener actively searches for a specific artist or song, then that stream’s weight is doubled again. This isn’t a distant dream, either: Deezer’s set to adopt this approach in France come October, with a broader rollout planned for January.

Why should I care?

For you personally: Cleaner playlists, happier artists.

Say goodbye to elevator music and hello to better tunes. Universal’s new rules mean your playlist is about to get a quality upgrade – while funneling more of the $900 million currently spent on “noise” into the pockets of real artists.

The bigger picture: Never the same stream twice.

Universal Music is a veritable titan. With a vast music portfolio and stars like Drake and Taylor Swift on its roster, it's the royalty in music royalties. And as the music streaming sector gears up for projected revenues of $38 billion this year, Universal’s strategic move with Deezer could be just the beginning: after all, the firm’s already in talks with industry giants like Spotify and Tidal. If all goes according to Universal’s vision, then, it could set a new standard for how the game is played – and won.