An important catalyst is unfolding in the energy trade right now.
The West has reached a deal with Iran to freeze its nuclear program in exchange for relief from some sanctions.
The accord has been the subject to all kinds of positive and negative analysis, but even the most vocal skeptics can't argue that the agreement is history-making.
"The mere fact that after 34 years of estrangement, the United States and Iran have signed a diplomatic accord — even if it is a tactical, transitory one — opens the door to a range of geopolitical possibilities available to no American leader since Jimmy Carter," writes the New York Times.
Although the current accord doesn't allow Iran to increase oil production, developments still suggest, as relations thaw, a major shift could follow in time .
Given these potentially game changing developments, here's what Jim Cramer finds most noteworthy.