Opinion | The free market is defeating Iran’s oil shock – USFTB

Despite ongoing Iranian attacks in the Strait of Hormuz, oil shipments from the Middle East have now surpassed prewar levels. The resumption of oil flows through the strait is thanks to the might of the U.S. military. But the proliferation of alternative routes around the region, new production outside the Middle East and declining fuel consumption is thanks to the might of the free market.