Volatility Lingers, But Oil Prices Avoid Worst-Case Scenario

Oil prices remain volatile six months into the Iran conflict, but they have not yet reached the dire levels predicted by energy analysts. When President Donald Trump launched his military action against Iran in late February, experts warned that oil prices could more than double during a protracted war.

Despite ongoing volatility, the most extreme projections have not materialized. The current situation is attributed in part to Chinese President Xi Jinping's policies, which are seen as having contributed to stabilizing global energy markets.

The US and China will engage in high-level talks next week, with Xi scheduled to make a state visit to Washington.