Oil drops as OPEC increases production

News of the day, Friday, June 3

European stock indices opened higher today: the DAX traded 0.3% higher, Euro Stoxx 50 increased 0.25%, and the CAC40 added 0.2%.

Oil drops as OPEC+ announced to increase production soon. Today, WTI crude traded 1.15% down, and Brent crude dipped 1.05%.

As Chinese lockdowns ease, shares trade positively. Nikkei is up 1.2%, S&P 500 is 1.8% higher, Nasdaq added 2.6%, and Dow Jones closed 1.3% higher.

The price of Brent crude is $117.00, WTI — $116.10, GBP/USD — 1.2581, EUR/USD — 1.0756, and gold costs $1866.20 per ounce.