Goldman Sachs estimated that enough Mideast pipeline capacity could be added to insulate 75% of the pre-war Gulf exports by the end of 2028.

Oil producers are building or contemplating new pipeline projects to bypass the Strait of Hormuz, but this infrastructure is still vulnerable, analysts said.

The Iran-Israel conflict briefly raised fears that disruption of the Strait of Hormuz, through which about 20% of global oil and gas passes, would trigger a sharp energy crisis.…