October crude oil prices traded higher during the initial morning hours and eclipsed the $100.00 mark in the process. There appeared to be a number of positive catalysts working in crude oil's favor, including a favorable shift in risk-taking sentiment following yesterday's Fed decision, a new four month low in the US dollar and ongoing tensions in the Middle East. The new round of Fed quantitative easing was seen by the market as an aggressive maneuver expected to stimulate economic growth, bring down unemployment and fuel the threat of higher inflation. Some traders were also growing concerned regarding riots in Cairo and more protests in Yemen and Egypt, and that seemed to inject a modest fear premium into the market.
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