Oil reacted to a bullish weekly Energy Information Admistration report right after the Fed semmed to get out of the way. While acknowledging that the economy is indeed getting better, there is no sign that the Fed is getting ready to change policy in the foreseeable future. On top of that, a potential deal between Russia and Cyprus to sell their energy reserves to Russia in exchange for a bank bailout could give the bulls a bit of momentum.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
