Sorry, it is directly related to monetary policy. Quantitative easing puts entirely too many dollars into the economy. That partly affects the price of oil since oil is traded worldwide in dollars and a dollar doesn’t buy as much oil in the past.. There is also a oil supply problem. The real driver to all economic problems is government and Democrats. Government has been overspending. The Fed is forced to do quantitative easing in response to the over spending. Government has been over regulating petroleum and related industries. This is an intentional perfect storm created solely by government including many Republicans that continue to kick the debt limit down the road.
The Fed may need to sell off all those securities that it bought. Siphon off all of the extra dollars. Cut the overspending. Cut corporate taxes and regulations to increase production of goods and services. Yeah, I know, none of this is going to happen.
Yup. Shoulda unplugged the Treasury printing presses a few years ago and CUT spending. Paralyzing the economy with a two year lockdown was just plain stupid. Flus come and go.