Hurricane Matthew's Impact Already Felt in Oil Markets

The video discusses a storm's trajectory moving from Florida to the Carolinas, potentially impacting oil tankers along the East Coast. It highlights the risk of disruption to oil storage in the Bahamas and the resulting skittishness in the oil market, which has seen a 5% increase in prices. The video also considers OPEC's potential production cuts and the storm's influence on oil prices, emphasizing the combined effects of these factors on the market.

How has the oil market reacted to the news of the storm, and what does the five-day chart indicate?

What recent actions by OPEC could influence the oil market in the context of the storm?