Brent Crude hits $110; WTI closes in on $98

The surge in oil is effectively working to negate the stimulus being provided by the Fed's QE purchases. What good does it do to artificially attempt to force long term interest rates lower to keep credit cheap if businesses and consumers are paying out higher and higher costs for energy? Any savings from lower borrowing costs will be eaten up by higher fuel costs.

Both markets hit new 29 month highs today.