12/25/2014 10:04 am ET Updated Dec 25, 2014

Oil's Swift Fall Raises Fortunes of U.S. Abroad

Bloomberg via Getty Images

A plunge in oil prices has sent tremors through the global political and economic order, setting off an abrupt shift in fortunes that has bolstered the interests of the United States and pushed several big oil-exporting nations — particularly those hostile to the West, like Russia, Iran and Venezuela — to the brink of financial crisis.

Read more on New York Times