U.S. oil prices notched their largest monthly gains on record in May, recovering a big chunk of the losses caused by lockdowns in March and April
U.S. oil prices notched their largest monthly gains on record in May, recovering a big chunk of the losses caused in March and April when the country went into lockdown to counter the spread of the coronavirus.
All that unburned fuel swamped refineries and storage facilities and sent oil prices into negative territory for the first time. Since the start of May, though, domestic inventories have been drawn down sharply as producers choked back output and drivers returned to the road.
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