A global banking meltdown rattled the oil market in recent weeks and sent crude futures plummeting.
OANDA senior market analyst Ed Moya was optimistic that relief was in store for the oil sector from the banking turmoil but he also warned of the Jekyll and Hyde nature of the market as risks remain. On the podcast, he discussed the lingering impact the banking crisis would have on energy sector investments and project financing, prospects for intervention by OPEC, and implications for US oil production. He also touched on how current market dynamics may impact prices at the pump and US plans for replenishing the Strategic Petroleum Reserve.
Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.
OIL FUTURES: Crude settles lower on fear of banking system contagion (premium content)