Oil prices rose today as the Fed decided to keep rates unchanged yesterday. Todays gains broke a 3 day streak of losses as some risk appetite increased in light of the Fed decision. “If the Fed calls off the dogs, the bottom for oil should be very close to being in,” said Phil Flynn, analyst at Price Futures Group. Investors will continue to watch for developments in the Middle East and how any rise in tensions could result in oil supply shocks. Fighting continues to rage on in Gaza and there are risks the conflict could spill over. WTI traded up $2.23 or 2.8% to close at $82.67. Brent traded up $2.22 or 2.6% to close at $86.85.