T o answer your question, yes contaminants on the belt such as oil, antifreeze, grease, and even water will cause some strange noises. Sometimes sounding like popping metal. Try jacking the front wheels up and with the engine running, turn the steering wheel lock to lock several times to remove air from the system. Keep check of fluid level while doing this. If noise persists, try spraying some silicone lubricant on the belt while engine is running. If noise immediately subsides, that is your problem. If you don't have spray silicone lubricant handy or just prefer not to use it, a bar of soap rubbed on the belt with the engine running will usually give the same results. Noise may come back after a few minutes but may go away in time. Myself, I would probably just replace the belt. Clean the pulleys good before installing the new belt.