Oil Price Rally Breaks Records In May

Early signs of growing demand for crude oil have prompted a market optimism that has led to increased WTI buying, setting the stage for the benchmark’s best-ever monthly performance, Bloomberg reports--even though the contract’s rally has been somewhat uneven. According to Bloomberg, West Texas Intermediate has increased by nearly 80 percent this month--the highest increase since 1983. Still, this month’s price rise has not been enough to offset the losses that the benchmark, along with all other benchmarks, suffered…