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Global crude oil prices are now lower than they were before Israel attacked Iran earlier this month. A price spike did occur, but it was short-lived — unlike oil crises of the past.

Multiple factors are holding oil prices down, including the fact that the United States is now the world's largest oil producer. Immediately after Israel attacked Iran earlier this month, crude oil ...

Multiple factors are holding oil prices down, including the fact that the United States is now the world's largest oil producer. Photo by Brandon Bell - Getty Images North America Immediately after ...

Global crude oil prices are now lower than they were before Israel attacked Iran earlier this month. A price spike did occur, but it was short-lived — unlike oil crises of the past.