Gulf states with strong ties to President Donald Trump are emerging from the war between Israel and Iran with greater regional influence and with some of their longstanding security concerns over Iranian power assuaged.

When Israel attacked Iran nearly two weeks ago, the Chinese government, a longtime friend of Iran, jumped into action — at least, when it came to words. Its leader, Xi Jinping, got on the phone with the Russian leader and urged a ceasefire.

U.S. stocks rallied, and oil prices tumbled on hopes that Iran will not disrupt the global flow of crude, even with the United States’ entry into its war with Israel. A barrel of benchmark U.S.

Global markets appear to have taken the U.S. strike against nuclear targets in Iran in stride as investors awaited moves by Iran. The price of oil initially jumped more than