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WTI crude for July delivery settled at $35.49 on May 29, finishing May with a record monthly gain of about 88%. Brent July closed at $35.33.
Easing lockdowns and OPEC+ output cuts were cited as drivers.
A record monthly rally reflects tighter supply and recovering demand, raising energy costs for feed transport and biofuel feedstock economics.
khaleejtimes.comIssac JohnMay 31, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
