For example, Brookfield Infrastructure doesn't have any direct exposure to commodity prices, since regulated rates back its utilities and fixed-rate contracts insulate its energy midstream assets. Thus, an economic slowdown could affect Brookfield's earnings, especially the company's global ports business, since it could slow maritime trade.
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Oil prices are poised to register their second straight weekly decline, the first time the commodity has been down for two consecutive weeks since April. This past week, the exchange-traded fund (ticker: XOP) is down 12%. “The decline is triggered by a series of unfortunate events: a surge in Covid-19 cases worldwide, the end of the peak summer driving season, the slowdown of the Chinese crude importing machine, and major producers trimming the official selling prices to Asia as refinery margins worsen,” wrote Paola Rodríguez-Masiu, an analyst at Rystad Energy.