A Month After Oil Plunged Into the Abyss, Prices Are Surging
- Crude market enjoys turnaround after shock of negative prices
- Higher-cost energy is welcomed from Washington to Moscow
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For the world’s most important commodity, there’s never been a month like it.
Just a few weeks ago, crude oil was akin to industrial waste in some parts of the world, something you had to pay people to take away. Now prices are surging, up about 70% in New York since the start of May.