A recent report has uncovered that he U. S. Federal Reserve’s new program aimed at enhancing and boosting the economy has also resulted in an increase in oil.

The Program was launched on Thursday, which has also caused Brent futures to augment a sixth session. The same includes buying $40 billion of mortgage debt each month or atleast until the time job-outlook improves.

Besides, it is being believed that it would also make investors raise money into riskier assets such as commodities and equities. The reason behind the same is that investors have after previous stimulus initiatives.

It has been found that oil prices fluctuated immediately following the announcement of the new plan. While the same fuelled to $1 per barrel primarily, it then fell before it could scale up back into positive territory, the report finds.

Also, on one hand, equities markets tended to extend gains. While on the other hand, the index for the Thomson Reuters-Jefferies CRB .CRB commodity was increased by 0.55%, which is sixth straight gain.

Again Capital LLC’s partner John Kilduff from New York says, “The seemingly open-ended purchase of mortgage-backed securities at $40 billion per month gives the markets the QE3 that had been priced in to a great degree”.