While Ben Bernanke is still talking about tapering, he made it clear that his plans on tapering are not on a preset course. Oil as well is not on a preset course but at some point soon we should see oil drop about $10.
The overall fundamental picture has not changed this week with oil stocks in the U.S. at the highest level in more than 25 years. Simply put, oil is well supplied with supply still outstripping demand.
Commodities are getting crushed as strong U.S. data increase the odds that the Federal Reserve is getting closer to "The Great Taper." The impact of QE on commodities is most clear when the Fed says that the party is going to end.