Crude reality...

The row started after the execution of Shia cleric on terrorism offences and 43 Sunni al-Qaeda militants. Iran warned Saudi Arabia to stop working against it as their diplomatic crisis intensified despite efforts to defuse the problem that has raised fears of greater regional instability.

Sunni Arab allies cut diplomatic ties with Tehran. Qatar has been at odds with Saudi Arabia, supporting different rebel groups in Syria and backing the Muslim Brotherhood in Egypt. Now is changing its stance. [BBC]

Iranian Foreign Minister accused the Saudis of acting against the Iranian people by keeping oil prices low. Today's oil is collapsing amid fears that tensions between Iran and Saudi Arabia will lead to a deeper price war in an oversupplied crude market. Oil prices went down 70% or more to $34 per barrel from around $100 last year and $147 the highest.

On the other hand we may have less problems in the Middle East as a result of less revenue from crude oil. Less support to various rebels, terrorists and others. Moreover, this will cause economical difficulties to the oil producer countries. A Crude Reality to the oil producers but better time for the consumers.        Just a thought.