Oil Sinks On Signals Fed May Soon End Stimulus ...Middle East

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Oil Sinks On Signals Fed May Soon End Stimulus
West Texas Intermediate sank to $63 per barrel after news reports suggested the Federal Reserve is about to start winding down its bond-buying program that kept the economy going through the worst of the pandemic crisis. CNBC reported on Wednesday that more and more Fed officials are backing the end of stimulus, and tapering could begin as soon as next month. The report noted that uncertainty still remained elevated because of the resurgence of the coronavirus, and yet oil prices reacted immediately. The central bank has been buying corporate bonds…

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