China fails to roll out major financial support, disappointing investors.

In the long run, there is some uncertainty about the volatility of oil prices.

Market would be wary of Iran's ability to exacerbate tensions by controlling the Strait of Hormuz.

It is conceivable that if this part of the "low-cost oil" flows into the market, it will have a significant impact on the entire oil price system.

Despite multiple positives, ING still says it expects oil price upside to remain limited until it sees a reduction in supply.

U.S. crude exports have set five new monthly records since the West began imposing sanctions on Russia in 2022.