New Layers of Uncertainty in Oil
- Consumer spending in transportation sector 45% below pre-pandemic level.
- Oil demand also hurt by airline traffic, remaining 70% below normal.
- Energy demand hinges on how virus courses through global economy.
- Oil inventories are high, along with diesel and heating oil supplies.
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QE Link to Gold, Silver, and Tech Stocks?
- Pace of growth in Fed’s massive quantitative easing has slowed.
- Gold, silver, and tech stocks retreated from highs after slowdown.
- These asset classes began rising earlier this year when Fed expanded QE.
- If equities correct further, will Fed be obliged to ramp up asset purchases?
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