Crude oil is moving through the Strait of Hormuz at a pace that is starting to approach prewar levels, a notable rebound for the world's most critical oil choke point.

That restored flow is mainly the result of Iran's somewhat depleted military capability and a U.S. Navy operation that has secured a portion of the waterway for relatively secure passage.

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But the forces driving high fuel prices are not receding along with the development. That will require a lot more than the costly military campaign that is clearing the way for passage of one product at one particular ...