Oil surges 88% in May, posting its best month on record (XLE)

WTI crude oil spiked 88% in May, notching its best monthly performance gain on record, according to data from Bloomberg.
The surge in oil prices comes just one month after oil prices went negative for a brief period of time, as demand for oil plummeted amid the economic shutdown caused by the COVID-19 pandemic.
Fast forward a month later, and signs of bottoming economic data suggest investors are willing to bet that demand for oil will bounce back as well.
While crude oil prices surged nearly 90