China and the United States are playing a major role in preventing global oil prices from rising even further as markets struggle with one of the largest supply disruptions in history.

According to the International Energy Agency, nearly 10 million barrels per day of oil exports from the Persian Gulf have been disrupted due to Iran’s blockade of the Strait of Hormuz.

The disruption represents roughly 10% of total global oil consumption, making it one of the most significant energy supply shocks ever recorded.

Despite the massive loss in supply, global crude oil prices have remained relatively contained compared to previous geopolitical crises.

International benchmark Brent crude recently traded just above $100 per barrel, a level analysts say is surprisingly moderate considering the scale of the disruption.

During smaller supply crises — including the aftermath of Russia’s invasion of Ukraine in 2022 — oil prices surged much more aggressively.

Experts believe one key reason prices have not skyrocketed is the influence of China and the United States on global energy markets.

China remains the world’s largest importer of crude oil and has reportedly adjusted purchasing strategies and reserves to help stabilize demand pressures.

Meanwhile, the United States, now the world’s largest oil producer, has increased exports and maintained strong production levels to offset part of the Middle Eastern supply shortfall.

American energy companies have continued shipping large volumes of oil to global markets, helping reduce fears of immediate shortages.

Analysts say coordinated market behavior from the two economic superpowers has helped calm investor panic and prevent more extreme price spikes.

The Strait of Hormuz remains one of the world’s most critical shipping routes, with a large portion of global oil exports normally passing through the narrow waterway.

Iran’s blockade has intensified concerns about energy security, shipping disruptions, and broader geopolitical instability in the Middle East.

Energy traders and governments are now closely monitoring whether diplomatic efforts can reopen shipping routes and restore stable oil flows in the coming weeks.

If disruptions continue for an extended period, economists warn that higher fuel prices could eventually increase inflationary pressures and slow global economic growth.