Oil price drops

The price of oil [has fallen] below $60 a barrel for the first time in more than a year amid fears that the world is facing a supply glut,” and that the drop “has confounded the expectations of experts, who barely two months ago were contemplating the prospect of supply shocks sending oil back to $100 a barrel for the first time since 2014.  In light of the drop, IAG’s share price rose 1.4%, while easyJet’s rose more than 4%.

This fall could give some breathing space for some carrier that have been struggling recently.