Stock is now down $1.38, over 3% drop. Futures are down 390 points. You should be worried. China threatening to buy Iran oil and bust the sanctions. If that happens, oil prices will tank.
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Not only that but this Ahole just made the most evil country in the world more powerful than the great deity. WTF. Impeach em all and jail their supporters.
You are right on the China aspect. That will be HUGE. Every oil company will suffer and quickly. The pain train will be pushing many poorly managed debt-laden companies off the tracks as it struggles towards the lean and mean station of profitability at any cost. The stock market is headed for significant correction and if the oil market suffers a significant hit, there will be hell to pay across the industry. Save your chips for the coming adjustment. Whooo Whooo, all aboard.