Oil’s May loss is worst in 3 years

City A.M. Reporter
CRUDE oil futures plunged more than one per cent yesterday to end May with their biggest monthly decline in more than three years.

In London, ICE Brent crude futures for July delivery settled at $101.87, down $1.60, the lowest finish for front-month Brent since 4 October. Front-month Brent fell 14.7 per cent for the month, its biggest monthly decline since December 2008.

Brent has fallen more than 21 per cent from its 2012 high of $128.40 hit in March.