It really matters little what the outside world thinks about the current conflict in Iran over the disputed re-election of Mahmoud Ahmadinejad, or whether the people in Iran are crushed by the totalitarian form of government that has been adopted. This is not a matter of opinion. It is a matter of fact by definition. There is a supreme ruler and what he says goes.

Nothing is more important to the ruling elite than remaining in power -- not the economic well being of it's citizens, not the education of the rural population, not the personal freedoms of the man in the street, and certainly not the rights of Iranian women.

Oil futures are trading up nicely today. The front month oil futures have traded up $1 to $66.08 and adding to gains made late last week. Today's surge comes with news that a cyclone is headed toward the oil-producing Arabian peninsula.

As the area braces itself for heavy storms and winds in excess of 120 miles per hour, traders showed concerns over possible production disruptions which has in turn pushed prices higher. Saudi Arabia has issued a statement that it would not be affected by the upcoming storm, but they may prove to be the lucky ones.

Also putting upward pressure on oil prices is, once again, Iran. As our readers are well aware, Iran and the West have been in a heated battle of words lately over the country's pursuit of nuclear power. The West is sure that Iran is seeking technology needed to develop nuclear weapons, while Iran firmly asserts that it is just looking to develop a nuclear energy technology. No matter which side you tend to believe, as long as the debate lingers oil prices will remain volatile.

In his most recent statement directed to the West, Iran's Supreme Leader Ayatollah Ali Khamenei stated that his country had no plans of backing away from the "field of danger" to protect its right to develop nuclear technology. This situation is bound to last for a while with neither side willing to back down. Let's just hope this can be solved diplomatically, another war in the Middle East is not something that anyone needs right now.