Oil settles higher after Fed statement

Crude-oil settle highter but after U.S Federal Reserve signaled that there were no change in it monetary policy, spike in inflation will be temporary and that the economy is recovering at a moderate pace, they said.Crude for June delivery CLM11 +0.86% added 55 cents, or 0.5%, to $112.76 a barrel on the New York Mercantile Exchange.

In what should not have come as a surprise, Bernanke did not offer much beyond what he has already state publicly in other forums. The U.S. economy is in the midst of a weak recovery and though the Fed must remain vigilant on when to shift gears and begin withdrawing stimulus from the system, that time is not now.The economics strategy team at RBS in Stamford, Connecticut had this to say about the Bernanke press conference:

the Chairman’s comments were as bland as the April FOMC statement. Perhaps more important than what was said is what was not said. In no way did Bernanke begin laying the groundwork for a near-term reversal in monetary policy. The Chairman appears watchful but comfortable with the Fed’s current stance.

We have to be aware if crude-oil keep getting highter we have to start thinking the   

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