Oil prices remain high and volatile six months into a war with Iran that began in late February, but the most dire analyst warnings—that prices could more than double—have not come to pass, according to a report. The conflict has no end in sight.

Chinese President Xi Jinping is scheduled to make a state visit to Washington next week. The report said Xi could make a credible argument that China's energy strategy has helped prevent worse oil price outcomes. It is unclear how much the two leaders will discuss Iran during the visit. The visit comes as President Donald Trump's Republican Party faces pressure from voters over high gasoline prices.