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John Kilduff

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Oil Prices Close Out May with Record Monthly Gains
May 31st, 2020 - 06:30 GMT

Oil Prices Close Out May with Record Monthly Gains

Oil prices jumped on Friday with West Texas Intermediate crude spiking 88 per cent, closing out May with record monthly gains as worldwide easing of lockdown curbs steadily boosted demand. Hopes of falling inventories subsequent to deeper Opec output cuts also spurred the rally. WTI crude futures for July delivery settled at $35.49 a barrel, jumping $1.78, or 5.3 per cent on Friday while July Brent crude closed at $35.33 ...
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