How China and U.S. eased the Middle East oil shock and kept prices from spiking even higher

China and the U.S., the world's two largest economies, wield great influence over the oil market and are using it to help plug the supply gap.

# How China and U.S. eased the Middle East oil shock and kept prices from spiking even higher China and the U.S., the world's two largest economies, wield great influence over the oil market and are using it to help plug the supply gap. **Read the full article:** [CNBC](https://www.cnbc.com/2026/05/15/china-us-oil-iran-war-strait-hormuz-trump-xi.html) *This article was originally published by CNBC. MoneyWiseInc provides expert curation of the best financial content from trusted sources.*