| The Federal Reserve's decision to leave its monetary stimulus program intact, together with positive momentum in the domestic manufacturing sector and bullish data from the Chinese economy have strengthened oil prices to 2-year highs of around $110 per barrel.
Partly offsetting this favorable view has been a spike in U.S. production - now at its highest levels since 1989 - and easing Syrian tensions. The immediate outlook for oil, however, remains positive given the commodity's constrained supply picture. And, while the Western economies exhibit sluggish growth prospects, global oil consumption is expected to get a boost from sustained strength in China, the Middle East, Central and South America that continue to expand at a healthy rate...............................................Full Article: Source
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