Crude oil prices recently fell despite US efforts to isolate Iran, as news of Iran-Oman talks on Strait of Hormuz access outweighed sanction impacts. The market's reaction suggests it views Iran, not the US, as controlling this crucial sea passage. US sanctions aimed to heighten energy-supply anxiety, but prices dropped. China's defiance against isolating Iran complicates US objectives, hinting at a potential shift in global power dynamics. Future Gulf crude flows depend on the resolution of the ongoing regional conflict. Observers note Beijing's confidence in maintaining Iranian energy access.