🛢️ World Oil Prices Drop Sharply

Global crude oil prices have experienced a significant decline, reaching their lowest levels in recent years. This occurred after OPEC+ announced an acceleration in oil production increase of 411,000 barrels per day starting in June, raising concerns about oversupply in the global market.

In today's trading:

• Brent Crude: dropped to around $59.20 per barrel, the lowest level since February 2021.

• WTI Crude: touched $55.53 per barrel, also a low point in recent years.