Oil prices dropped more than $2 per barrel following an announcement by OPEC+ to increase output by 411,000 barrels per day starting June 1. U.S. benchmark crude fell to $56.08 per barrel, while Brent crude declined to $59.15 per barrel. Analysts suggest the decision might be influenced by a desire to align with U.S. President Donald Trump ahead of his Middle East visit. Oil prices have fallen nearly 20% in the past three months due to concerns over trade policies. With most Asian markets closed for holidays, Australia’s S&P/ASX 200 lost 0.7%, and Taiwan’s Taiex declined 2.1%. The U.S. dollar weakened slightly against the Japanese yen, while the euro strengthened.
— new from ABC News
