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Crude oil is on track to finish out May as its worst performing month of 2024.
Prices dropped by 3.2% in May, its biggest monthly decline since December. On the year, crude is still up by 10.7%.
Prices surged in April as tensions in the Middle East worsened, which is likely the cause of this drastic drop. However, softening demand and stabilizing inventory is also keeping prices from making any major gains.
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