Oil prices are high but could be much worse. Trump has China's Xi to thank for that - Yahoo
Despite ongoing conflict in Iran, global oil prices have remained more stable than predicted, a trend analysts attribute to China's energy strategy. President Trump is expected to discuss these geopolitical dynamics during an upcoming visit from President Xi Jinping.
Why it matters
The stability of oil prices is a critical factor for the US economy and political landscape, particularly as the administration faces pressure regarding domestic gasoline costs.
FILE - President Donald Trump, left, and Chinese President Xi Jinping tour the Forbidden City, Nov. 8, 2017, in Beijing, China. (AP Photo/Andrew Harnik, File) (AP Photo/Andrew Harnik) The sun sets over commercial vessels anchored in the Strait of Hormuz off Bandar Abbas, Iran, with the city's skyline in the background, Sunday, Sept. 6, 2026. (AP Photo/Vahid Salemi) (AP Photo/Vahid Salemi) FILE - President Donald Trump, left, participates in a welcome ceremony with China's President Xi Jinping at the Great Hall of the People, May 14, 2026, in Beijing. (AP Photo/Mark Schiefelbein, File) (AP Photo/Mark Schiefelbein) A motorboat passes a general cargo ship anchored in the Strait of Hormuz off Bandar Abbas, Iran, Sunday, Sept. 6, 2026. (AP Photo/Vahid Salemi) (AP Photo/Vahid Salemi) Trump Xi 1 of 4 FILE - President Donald Trump, left, and Chinese President Xi Jinping tour the Forbidden City, Nov. 8, 2017, in Beijing, China.
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