Despite the loss of more than one billion barrels of supply since the start of the war with the Islamic Republic, the global oil market—contrary to initial concerns—did not face widespread shortages of gasoline, diesel, or jet fuel. According to Reuters, at the height of the crisis, supply disruptions reached 14 million barrels per day, but oil prices—after jumping to around $126 in April—are now lower than they were at the start of the war. Reuters said three factors helped contain the crisis: Saudi Arabia and the United Arab Emirates using alternative export routes; China reducing its purchases of oil; and widespread release of oil reserves in consuming countries. Based on the report, the International Energy Agency’s plan to release 400 million barrels of storage reserves, along with broader withdrawals from oil depots, gave the market an opportunity to get through the shock. But the main warning is about the next phase. Reuters wrote that the global economy has passed through the crisis by consuming reserves that were supposed to cushion future shocks. Now these reserves must be replenished, and it is estimated that replacing them at current prices would cost more than $70 billion.