Oil prices rallied along with equities on Friday, after realizing the Fed would not be tapering anytime soon, due to the persistent lackluster jobs data. As we discus above, the data are middling, but they are in the right spot in terms of allowing for more asset purchases. Prices for WTI pushed above $96 last night, but there has been some slight profit-taking. It appears Saudi Arabia is filling the supply gap left by Iran.
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