How Oil Producers Are Bypassing the Strait of Hormuz

“The oil market’s top players aren’t waiting around to see who winds up with control over the Strait of Hormuz — countries and companies are scrambling to bypass the waterway,” Axios reports.

“Why it matters: The Iran war threw a spotlight on the strait as the longtime center of the global energy trade, and the industry now has a huge incentive to reduce its dependence, regardless of the war’s outcome.”