(Paris) The clear drop in oil was at the center of attentions on Monday on the markets on Monday, while London and the main Asian stock markets are closed for a holiday, the organization of oil exporting products and its allies (OPEC+) having announced to accelerate their production of black gold in June, despite the overabundance of the offer
Updated yesterday at 12:04 p.m.
“Brut is under pressure due to the degradation of global economic prospects, mainly fueled by the commercial disputes initiated by President Trump, who resulted in the downward revision of demand for demand,” said Ricardo Evangelista, analyst at Activtrades.
In this context, the announcement of the organization of oil exporting countries and its allies (OPEC+) to increase its black gold production in June “added additional pressure on prices,” he continues.
Eight OPEC+ member countries out of 22 said on Saturday that they would emerge from the ground 411,000 additional barrels per day next month, as much as in May, while the initial reintroduction plan provided only 137,000 additional barrels.
Around 11:45 a.m. (East time), the Brent of the Brent of the North Sea lost 2.69 % to 59.64 dollars and its American equivalent, WTI, ceded 2.98 % to 56.55 dollars.
The two global references in crude have been evolving near their lowest level since the beginning of 2021.
The air benefits from oil prices
The drop in oil prices benefits “companies in the logistics sector and air transport,” comments Andreas Lipkow, an independent analyst.
In Europe, Air France-KLM ended up 2.37 %, Lufthansa increased by 2.35 %and Dassault Aviation won 1.66 %.
In the United States, around 11:45 a.m. (East time), Delta Air Lines earned 3.35 % and United Airlines 2.24 %.
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