Ted Cruz

In terms of the oil prices, we've seen a temporary spike. I don't think it will be extended. Over the long term, this will put downward pressure on oil prices. Having Iran led by a government that is not a terrorist organization... will result in greater global supply. The current geopolitical risk premium in oil is based on fears of supply disruption. If the US successfully forces a regime change in Iran without a protracted war, the risk premium will evaporate. Furthermore, a normalized, non-sanctioned Iran would add significant crude supply to the global market, driving prices down. SHORT oil via USO as the conflict nears a resolution and new Iranian supply threatens to flood the market. The conflict escalates, Iran successfully mines the Strait of Hormuz, or the regime change fails, leading to a protracted war and sustained supply disruptions.

Iran is about to run out of oil storage capacity, forcing well shut-ins that will permanently reduce production by 500,000 to 800,000 barrels per day, creating a significant supply disruption that supports higher oil prices.