Analysts remain uncertain about the end of the Israel-Iran conflict following a US-announced ceasefire. While the truce is holding, high oil prices and potential regional tensions could impact global economies, particularly China and Europe, which rely heavily on energy imports. Iran plays a crucial role in the oil market, providing significant amounts to China and controlling key shipping routes. Despite sanctions, Iran is diversifying its trade partnerships, particularly with Eurasian countries. A rise in energy prices could lead to inflation and economic instability in Europe, affecting global supply chains and industries.