In a world full of geo-political risk, can we take some comfort that at least one dangerous hotspot may cool down? Former basketball star Dennis Rodman is on his way to North Korea to open a dialogue with his buddy North Korean leader Kim Jong-Un. Maybe Dennis can explain to him that nuclear war may not be in his best interest. Crude oil traders can now rest easy. We’re all so relieved.

Saudi energy minister, Khalid Al-Falih, was touring Russia over the weekend and suggested that there could be a further cut in oil production if oil inventories did not start to drop dramatically. While Al-Falih believes we will start to see inventory tightening accelerate in the coming weeks, he said that if we don’t see inventory drop, then an extension of cuts or a larger cut may be implemented and said that nothing, when it comes to getting the oil market in line, will be off the table.

Although higher at the time of this writing, oil prices have been generally falling ever since that OPEC meeting on May 25.

Comments on the markets in light of political tensions in the Middle East and the impending UK general election.

Comments on the global stock markets amidst political uncertainty.

While it was expected that political risk would continue driving sentiment this week with the UK Election just days away, nobody saw it coming that the main story at the beginning of the week would be the unexpected news that a Saudi-led alliance would cut all diplomatic ties with Qatar.

Crude oil prices are getting a look at terror premium as four Arab Gulf States, led by Saudi Arabia, cut diplomatic ties with Qatar as another terror attack takes place on the streets of London. Terror is becoming a top issue around the globe as ISIS took responsibility for the slaughter on London Bridge.

The head of Qatar's sovereign wealth fund has told U.S. officials it will invest $10 billion in infrastructure projects inside the United States, sources said, in an apparent boost to the economic plans of president-elect Donald Trump.

The head of Qatar's sovereign wealth fund has told U.S. officials it will invest $10 billion in infrastructure projects inside the United States, sources said, in an apparent boost to the economic plans of president-elect Donald Trump.

Saudi Arabia backed out of a deal to freeze crude oil output at the “Doha Initiative” in a sign that the politics of OPEC have changed forever. There seems to be a widened slip from the old energy guard led by Saudi oil minister Ali al-Naimi and the factions led by the new Saudi King Salman.