MarketWatch/Barbara Kollmeyer/5-6-2022
“One of [Samantha LaDuc’s] biggest calls sees crude reaching $160 by summer and $260 within a year, which LaDuc laid out in an interview with MarketWatch on Tuesday. It is one of the few inflation hedges out there, she said. And a European embargo of Russian oil — the European Union proposed a ban on Wednesday to kick in within six months — will result in spiking oil, bond yields and the U.S. dollar, which will crush U.S. equities and emerging markets.…”
USAGOLDl note: In our view, $160 oil would be devastating. $260 oil could ignite an inflationary nightmare. Oil might turn out to be a workable inflation hedge on paper under such circumstances, but it lacks the practicality and functionality of a real safe haven like gold or silver.
