Commodities
Gulf Nations Find Alternative Oil Routes Amid Iran War
When Iran shut down the Strait of Hormuz at the start of the war, many feared that oil prices would skyrocket and crater the world economy.
Nearly seven months on, oil is expensive but not exorbitant, and analysts say there's enough oil available to meet current global needs.
Saudi Arabia and other Gulf producers quickly found alternative routes for oil exports after Iran closed the strait, which is a vital waterway for international shipping.
The closure of the strait at the start of the war had threatened to cut off sea passage for some 15 million barrels of oil a day.