Crude prices are stable following last week’s drop below pre-Iran war levels, as Opec+ nations agree to increase production. ECB Governing Council Member and Central Bank of Ireland Governor Gabriel Makhlouf tells CNBC fall in prices will not be felt though any relief inflation just yet. Speaking to CNBC at the Rencontres Économiques d’Aix-en-Provence, EU Industry Commissioner Stéphane Séjourné insisted the bloc must defend its strategic interests in the face of growing geo-political threats. EasyJet has reached an ‘agreement in principle’ with U.S. investment company Castlelake which is set to acquire the UK budget airline in a deal worth an estimated $5.5bn.<br>See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Opec and allies agree to hike output as Hormuz traffic begins recovery 

Squawk Box Europe Express

The CNBC app, global market news in one place. Customizable sections and personalized alerts, stocks tracking, interactive charts and market insights all in your hands. Stay connected, stay informed. Download the CNBC app today. Welcome to Squawk Box Europe. I'm Karen Cho with Ben Boulos. These are your headlines. Crude prices in a holding pattern after falling below pre-Iran

war levels last week as OPEC Plus countries agreed to boost production. But the ECB's Gabriel Makhlouf tells CNBC that won't be necessarily translating into immediate inflation relief. We know inflation is already in the system and the fact that oil prices have fallen doesn't mean that inflation is going to disappear. So we need to continue to keep a very close eye on what's

coming. From Chinese competition to U.S. tariffs, EU Industry Commissioner Stéphane Séjourné tells CNBC the bloc must defend its strategic interests in the face of mounting geopolitical challenges. We have sectors facing unfair competition and we're dealing with American tariffs, which we didn't want. Each sought to defend their own economy by re-industrializing. Europe's re-industrialization will also depend on defending its economy and strategic sectors.

easyJet reaches an agreement in principle with Castle Lake, the U.S. investment firm, due to acquire the budget carrier in a deal valuing it at up to £5.5 billion. And a red card controversy. U.S. President Donald Trump personally thanks FIFA for lifting U.S. striker following Balogun's red card ban, prompting anger from Europe's federation.

Meanwhile, England and Norway fans rejoice following their country's World Cup heroics.

Welcome to another big trading week and we kick off the start of trade on Monday with another big deal in the media sector. Consolidation is the name of the game in the content world and the latest is that ITV has agreed to...

Opec and allies agree to hike output as Hormuz traffic begins recovery

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Opec and allies agree to hike output as Hormuz traffic begins recovery

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.