Oil costs drop with most Asian markets closed for holidays

HONG KONG (AP) — Oil costs fell Monday after the OPEC+ group of oil producing nations mentioned it plans to extend output. U.S. futures fell U.S. benchmark crude oil sank $1.72 or 3% to $56.57 per barrel in digital buying and selling on the New York Mercantile Change. Brent crude, the worldwide commonplace, misplaced $1.66 to $59.63 per barrel. In the course of the weekend, the OPEC+ group of eight nations introduced it would elevate its output by 411,000 barrels per day as of June 1, stepping up manufacturing will increase. The group mentioned robust fundamentals have been behind the choice, although analysts additionally speculated that it…