The opening of the Iranian Oil Bourse (which coincidentally happened to be delayed by a bunch of internet cables being severed underwater) trades in Euros. That means that the world no longer has to get dollars first to buy oil, and could continue to have a drastic effect on the value of the dollar.

Apparently the WTI is not an oil market, but an oil type. Strange ...

This is nothing more than saber rattling. Iran can't produce enough oil to fulfill its OPEC quota, yet rather than investing in new infrastructure it chooses to antagonize it's foe.

Iran is not the only one jumping on the Euro bandwagon, expect others to join. The only reason why the Petrodollar is the dollar is due to the dominance of the American economy on the world stage, as that dwindle expect others to switch. Simple economics.

http://www.tomdispatch.com/post/174919/michael_klare_oil_rules_

This is subtly shifting to an European economic power. What when the fountain runs out of oil?