Oil price bounces back

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Oil prices soar

As countries around the world emerge slowly from lockdown, demand for oil is picking up and the price is following suit. Brent crude (the international standard) hit $35 dollars a barrel yesterday, the highest it’s been since March. Many countries have also cut production following April’s price collapse, which limits supply and helps balance the market.

Air bridges?

There’s a plan afoot among UK MPs to try and build so-called “air bridges” to connect the UK to countries where coronavirus is under control. It would mean that people could travel between the connected countries without needing to spend time in quarantine.

Under 25s worst affected

One in three people aged 25 or under has lost their job or been furloughed amid the coronavirus crisis. Thinktank the Resolution Foundation says the data shows that younger workers are bearing the brunt of the pandemic’s impact on the jobs market. It’s now calling on the government to do more to guarantee work for young people.

Big summer blowout

Clothes shops are making plans to reopen their doors next month, and shoppers could be welcomed back with some big bargains. The last few months has left many retailers with excess stock to shift, so analysts predict that we’ll see heavy discounts.

Animation to the rescue

With TV and film crews unable to shoot during the lockdown, one section of the industry is booming: animations and special effects. Animators can work remotely, so while blockbusters have been paused, work on the year’s biggest animated films is racing ahead on fast forward.

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