Weekly Fundamentals - Crude to Remain Range-Bounded Under OPEC's Manipulation
BonTradeThe dovish September FOMC statement heightened speculations that the Fed will announce additional monetary easing measures later this year. Provision of extra liquidity to the market is negative for USD. The dollar index dropped below 80 for the first time since March 2010. Weakness in USD drove commodities higher. WTI crude oil rallied, after a week of selloff in the prior week due to earlier-than-expected resumption of operation in the 6A pipeline, as a lower dollar increased it appeal despite unexpected rise in crude inventory.
Continued here:
Weekly Fundamentals - Crude to Remain Range-Bounded Under OPEC's Manipulation
