That did have a minor effect when prices where up at levels in June, the prices have dropped 50% since then. I see a decline in fracking as positive for OIL prices, fracking is mainly for natural gas. Any pushing down of OIL prices to affect Iran, is just a pipe dream. I am viewing the current price levels for an entry for intermediate term move in OIL prices, it could go back and test recent lows, traders can cause that to take place. My view would be prices will move much higher in the coming months, unless we see a major slow down in the over all world economy....
Really, the main reason OIL prices fell, over supply, under demand, prices were just extended, OIL trades usually in lockstep with the overall stock market.
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