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Oil fell for a fifth consecutive day June 14, heading for the longest run of declines since February, as U.S. industry data showed crude stockpiles expanded, exacerbating an oversupply.

The rebound in fuel costs pushed up U.S. wholesale prices in May for a second month, overshadowing a drop in pricing power more broadly that signals inflation will take time to move toward the Federal Reserve’s goal.

Nikola Motor Co. said it has received more than 7,000 reservations for its yet-to-be-unveiled electric Class 8 truck, the Nikola One.

California has expanded its testing of zero-emissions electric-powered heavy-duty vehicles as the state grapples with finding solutions to the worst air quality in the nation in several of its cities, experts said.

The Senate on June 13 cleared a bill that would direct federal regulators to implement a series of pipeline safety mandates.

The U.S. retail diesel average climbed 2.4 cents to $2.431, the Department of Energy reported, while the volatile price of crude oil slipped below $50 per barrel.

Oil investors are buying contracts that will only pay out if crude rises well above $100 a barrel over the next four years — a clear sign some believe today’s bust is sowing the seeds of the next boom.

Oil rose to the highest level in more than 10 months in New York as government data showed U.S. crude supplies declined, reducing a glut.

Oil advanced from the highest close in more than 10 months before U.S. government data forecast to show crude stockpiles dropped for a third week, trimming a glut.