It'll be a long, hot summer as energy prices supercharge inflation

Global energy markets have gone through dramatic shifts since Russia's invasion of Ukraine, and the risks around high prices and tight supply are not expected to ease anytime soon.

Atul Arya, chief energy strategist for S&P Global Commodity Insights, spoke with senior editor Meghan Gordon about those challenges.

They discuss how the war has changed the pace of the energy transition away from fossil fuels, whether the focus on energy security is on the rise, and how today's energy crisis compares to the oil shocks of the 1970s. They also look at the long-term impacts of Europe severing economic ties with Russia and the latest outlook for US oil supply growth.

Stick around after the interview for Jordan Blum with the Market Minute, a look at near-term oil market drivers.

This podcast was produced by Meghan Gordon in Washington and Jennifer Pedrick in Houston.