War Workarounds Keep Oil Flowing, But at a Steep Cost

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.

However, nearly seven months on, oil is expensive but not exorbitant, and analysts say the supply is pretty much sufficient to meet current global needs.

Saudi Arabia and other Gulf producers quickly found alternative routes and reached for unused pipeline capacity when Iran targeted key trade routes in the Strait of Hormuz.

When those were attacked, oil exporters and the U.S. military found others - workarounds for the workarounds - in an often clandestine game of whack-a-mole.