That would change if the war were to spread, but Iran and China have a stake in keeping it contained.
A war in the Middle East typically sends oil prices soaring, since the region is home to about half of the world’s proven reserves. Not this time. After ticking up a few dollars, the price of Brent crude has been even or lower than on Oct. 6, the day before Hamas’s attack on Israel. There are three reasons for this: the shale revolution, market psychology and a transformation in the politics of oil. Read full article HERE