Amid uncertainty around the Strait of Hormuz, for months Gulf countries and oil companies have been finding ways to bypass the choke point.

Middle Eastern allies are building new pipelines and ports to bypass Iran's control. Traffic through the Strait of Hormuz returning to normal by August 31 at 11.

As nations surrounding Iran pour billions into new pipeline networks, the significance of the Strait of Hormuz as an oil transit route is rapidly declining. Forecasts suggest that…