I am struck by the news that Iran arrested 100 protesters who torched the Saudi embassy and announced it publicly. As you may recall, Iran usually blames elements like "students" and does not intervene. If they make arrests, it's behind the scenes.

This may indicate that the Shiites are willing to make a deal with Sunnis to get the price of oil up a bit. As the price of oil drops the volatility used to rise as the chances of OPEC cutting supply increase. When the Saudis cut off the head of Nimr, and the Iranian "radicals" attacked the embassy, it seemed less likely that they would think of even talking. That looks like a item to stick in the bullish column for oil prices.

"Iran arrests 100 people over attack on Saudi embassy"


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