Meta Dodges Massive Fines as Oil Prices Continue Downward Slide

Meta Platforms has reached a settlement that will save it from facing potentially devastating civil penalties. The company agreed to pay $18 billion over the next decade, a fraction of the estimated $200 billion in fines previously threatened by California, Colorado, Kentucky, and New Jersey.

The agreement comes with some concessions from Meta. It has committed to limiting teenagers' use of Facebook and Instagram to two hours per day, blocking access to both platforms between midnight and 6 am daily.

Meanwhile, oil prices continued their downward trend, with WTI crude futures falling below $82. A deal between Iran and Oman to secure control of the Strait of Hormuz put pressure on oil prices.