“If the Middle East is unstable, the world will not be at peace,” Chinese President Xi Jinping said Thursday. “If the conflict escalates further, not only will the conflicting parties suffer greater losses, but regional countries will also suffer greatly.”

The Israel-Iran war continues, but outside of oil, the capital markets have barely reacted. WTI rose by about 2.7% last week after a 13% rally the previous week.

China hosted a summit for African leaders last week while the Trump administration weighed adding two dozen more African countries to its travel ban list.