Oil is set for its biggest monthly drop in 6 years, bringing consumers some relief

Oil is on track for its largest monthly decline in six years, delivering relief to motorists as Brent prices slip more than 20% in May and U.S. crude about 19%. The pullback has translated into lower U.S. pump prices, as the national average for unleaded gasoline falls to around $4.39 per gallon, down 17 cents from May’s peak. Costco said gasoline volumes set records in the quarter, reflecting strong demand as prices ease. White House messaging that Iran and the U.S. are nearing a peace deal has boosted risk appetite, though analysts warn the rally could be premature.