In an interview with CNBC, oil analyst Paul Sankey indicated that China's significant investment in petroleum markets may be a calming element amid global concerns.

"It's interesting that the Venezuelan threats against Guyana go nowhere, while the Iranian threats fade away," said the founder of Sankey Research. "And I believe a large part of that is China standing behind the curtain and saying, you know, can you just not disrupt our energy supply? We don't need a problem right here since we already have our own problems."

After all, the country is the world's largest oil buyer and an important customer for Western-sanctioned producers.The Atlantic Council stated in March that China has essentially built an alternate energy market with Russia and Iran.

Sankey justified the oil market's modest response to tensions between Iran and Israel last weekend by citing China's substantial purchasing of Tehran crude: Brent crude, the worldwide benchmark, fell below $90 per barrel on Monday.

"I believe the main driver behind all of this is Iran's supply of oil to China." "You know, I believe that the oil going east is critical," he continued.

According to Reuters, tiny Chinese refineries account for 90% of Iran's overall oil exports.

This looks to be beginning, with the US House of Representatives voting on whether to increase secondary penalties on Iran on Monday, Bloomberg reported. The measure would also target Iran's oil commerce with China.

Meanwhile, tensions between Venezuela and Guyana appear to be unabated, with few notable developments in recent months. The dispute between the two oil producers began in late 2023, when Caracas claimed that it would acquire an oil-rich territory belonging to Guyana.

Sankey agreed with JPMorgan's post-weekend analysis that it is not in any country's interest to seek deeper hostilities, and expects Tehran to face sanctions instead.