Matt Badiali Quoted on MarketWatch: Oil Prices & Crude Volatility
Oil prices settled higher on Tuesday following a volatile trading session. Traders are weighing the odds against oil outputs and disruptions in Libya and Canada, expectations for higher production from Saudi Arabia and Russia, and declines in U.S. crude oil inventories.
Markets and Commodities reporter, Myra P. Saefong and Neanda Salvaterra from MarketWatch.com have been closely following the oil trade, prices, and volatility in the crude market, and I had the pleasure of discussing the current state of crude oil trade for their most recent MarketWatch article:
“The U.S. deadline of November 5th for all companies dealing with Iran will have an impact on oil prices,” said Badiali, referring to the expected implementation of U.S. oil sanctions on Iran. “Depending on the number of companies that comply, that will cut a large amount of Iranian crude oil from the market. Even a loss of a million barrels per day will have a huge impact on crude prices, because OPEC will struggle to increase production to that level.”
“I’m anticipating higher oil prices this fall,” said Badiali.
To read the full coverage on increasing oil prices and market volatility for this everyday commodity, read the full article here: “Oil Prices Settle Higher in Volatile Trade as Traders Weigh Supply Prospects“.