Energy XXI Ltd fka EXXIQ

[oldberkeley]

I was reading that the US federal reserve had a meeting,I wonder what was said that made the market and oil wake up a bit.

I don't think that anything was said to account for this.

Instead, I'd 100% agree with this from Marketwatch:

Strategists said sellers appeared exhausted after a sharp plunge in crude accelerated this week.

Darin Newsom, a commodities analyst with Telvent, said he hadn’t seen news headlines or a significant change in fundamentals to explain the sudden jump in oil prices. That has led him to believe it was likely due to a flood of new buy orders once both benchmarks tested lows earlier in the week.

“It’s what I call a vacuum market,” where sell orders were few because of the recent low prices and the buy orders, some of them likely automated, are capable of pushing prices up rapidly. “We ran out of selling … computers were triggered, prices shot up.”