In decades past, turmoil in the Middle East would send crude oil prices soaring, pushing up the cost of gasoline for drivers and incentivizing Louisiana producers to boost their output.

The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.

The U.S. launched military attacks on Iranian nuclear sites. Iran now says they plan to close Hormuz Strait. How will conflict affect gas prices?