The price war in crude oil is over if you want it to be! At least that is the talk in the energy complex where Saudi Arabia declared a price war against the shale producers at the November OPEC meeting.
OPEC says that U.S. crude oil production will fall while demand for its oil will rise. That is the latest prediction from the OPEC oil cartel that seems to be winning the production war against the U.S. shale producer.
Ten years ago almost to the day Matthew Simmons wrote his iconic peak oil best seller "Twilight in the Desert" with the premise that that Saudi oil and crude oil production globally could soon approach a serious, irreversible decline.
Iran nuclear talks go into overtime and if they get a deal done today it will be forever known as the "April Fools' agreement." This may or may not be my commentary of what I think is the wisdom of a deal or those whom negotiated the deal, where the United States seems desperate to get a deal--any kind of a deal.
Iran talks go into overtime causing some traders to believe that they may actually get some type of a deal done. The crude oil market today will be torn between focusing on the renewed strength in the dollar versus Iran nuclear talks that at least in the short term like they are going into overtime.