Oil Rebounds Sharply as China's Rate Hike Concerns Digested. QE Speculations Resurface

Oil prices rebounded sharply as risk appetite returned amid renewed speculations for Fed's QE and smaller-than-expected increase in crude stockpile. The WTI contract for November delivery, expired yesterday, rose +2.87% to settle at 81.77 while the new front-month contract (December) surged +2.97% to close at 82.54.

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Oil Rebounds Sharply as China's Rate Hike Concerns Digested. QE Speculations Resurface