# Oil is on track for its best month ever after rebound, but traders say it's 'not out of the woods'

> WTI has rallied more than 70% in May, on track for its best month on record, though still roughly 50% below its January high. Improved demand in the US and China and producer cuts drove the gains. Barclays warned prices could remain volatile.

- Date: 2020-06-01 · published 2020-06-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/53306-oil-is-on-track-for-its-best-month-ever-after-rebound-but-traders-say-it-s-not
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Strong crude gains and volatility feed through to diesel and freight costs and to biofuel feedstock economics, raising input costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2020/05/25/oil-is-on-track-for-its-best-month-ever-after-rebound-but-traders-say-its-not-out-of-the-woods.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.