Crude oil prices gained as market sentiment was surprisingly buoyed after the Fed announced that QE tapering would begin in January. Fed’s more optimistic economic outlook and its dovish statement pledging to leave the policy rate at exceptionally low levels probably drove markets higher. Prices were also lifted as the EIA/DOE report showed another week of US inventory fall.
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Crude Oil Gained as Fed Begins Tapering but with Dovish Tone
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