Oil prices fell in Asian markets following the deal to curb Iran’s nuclear program in exchange for the removal of economic sanctions.  Iran has the world’s fourth largest oil reserves, and the market is looking ahead to six months from now, when Iran will be allowed to increase production.

Negotiators finalized the breakthrough accord during talks in Geneva between Iran and six major world powers:  US, UK, China, Russia, and France from the UN Security Council; and Germany. Iranian clerical Supreme Leader Ayatollah Ali Khameini already endorsed it. 

But what could begin a clear turn in America’s relationship with Iran has its detractors.  US President Barack Obama placed a called to Israel to reassure Prime Minister Benjamin Netanyahu, who had already denounced the deal as a “historic mistake” almost immediately after it was announced.

But despite the Israel government’s skepticism, pushing to the resumption of sanctions against Iran may only further isolate the Jewish state.  Netanyahu and some American lawmakers who don’t get to vote on the deal are the loudest voices against it.  Even the Arab Gulf States, long suspicious of Iran’s ambitions, are waiting before condemning or approving the potential end of a cold war stretching back to 1979.