Oil economist: 'Prices have gone up, and they're going up higher'

Tim Snyder, an economist with Matador Economics, tells Marc Cox that, "we have pushes and pulls on the markets which make prices go up and down," in the oil industry.

Snyder points out that oil prices dipped after President Joe Biden announced a planned release of oil from the US Strategic Petroleum Reserve, "it dropped the market on Friday, quite substantially. Yesterday we recovered, and we're back up again today. The fact is, these prices are gonna continue to do that. There's no plan on the forefront that's gonna stop that from happening. And remember our highs keep getting higher, and our lowers keep getting higher as well."

Related

As oil prices fall from peak, analysts warn of continued volatility

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