World to Iran: We don't need your oil after all

Time was, all it took to get oil prices jumping was someone passing gas too loudly near a Nigerian refinery. Today Iran is test-firing missiles capable of hitting targets throughout the Middle East, and the oil market couldn't care less.

It seems there's nothing like an oil glut to keep traders from piling on -- even as a geopolitical crisis with Iran, the world's fourth-biggest oil producer, looms.