Gulf Nations Maintain Oil Flow Despite Iran War

Gulf nations have found ways to keep oil flowing through the Iran war.

When Iran shut down the Strait of Hormuz at the start of the conflict, choking off sea passage for some 15 million barrels of oil a day, many feared that prices would skyrocket and crater the world economy. But nearly seven months on, oil is expensive but not exorbitant, and analysts say there's enough oil available to meet current global needs.

The crisis has caused political problems for US President Donald Trump and others, but the higher prices have not led to the catastrophic economic consequences that were feared. The Strait of Hormuz remained open throughout the conflict, allowing oil to continue flowing through the waterway.