Crude oil is rallying today after the Fed failed to hint at any tapering of its accommodative policy. Another factor contributing to the strengthening of crude oil is strong manufacturing data from China.
The Brent crude futures contract for September delivery (ICE Futures) is up by $1,22 and is currently trading around $108,92/b.
At the same time the WTI futures contract for September delivery has appreciated by $1,46 up to $106,49/b.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of Heating Oil:
