Qantas soars as drop in oil prices signals lower jet fuel costs

(Reuters) -Shares of Australia’s Qantas Airways rose more than 5% on Monday to an over one-month high after oil prices dropped in early Asian trade following OPEC+’s plan to further speed up output hikes.

Jet fuel prices are a critical cost for airlines.

(Reporting by Sneha Kumar in Bengaluru; Editing by Mrigank Dhaniwala)