Why oil prices stayed calm amid US-Iran conflict
Despite predictions of crude oil prices soaring due to the U.S.-Iran conflict, Brent crude futures peaked at $126 and averaged $101 per barrel, well below the anticipated highs. Factors contributing to this stability include reduced crude imports by China, which hit a nearly decade-low, and increased U.S. oil production reaching a record 13.93 million barrels per day. Additionally, U.S. President Donald Trump's statements on peace agreements have dampened bullish sentiment in the market, leading to cautious trading behavior.