Six months after the United States and Israel attacked Iran on Feb. 28, oil is trading at $89 a barrel, up 23% from before the war. Gasoline prices rose 34% for American drivers within a week of the attack and remain elevated as energy flows through the Persian Gulf have slowed. The global economy has adapted better than many energy executives expected, helped by strategic-reserve releases, increased production across the Americas, continued Gulf exports despite risks in the Strait of Hormuz and a sharp reduction in China’s oil purchases. The conflict has also changed shipping patterns, with fewer vessels using alternative routes. The larger concern is reduced refinery capacity caused by wars in the Middle East and between Russia and Ukraine, which has made gasoline and diesel more expensive. Future prices will depend partly on how long the United States and Iran disrupt Strait of Hormuz traffic and whether China increases imports. Markets in stocks and bonds have mostly shifted their focus to other issues, while the energy market appears to be settling into a fragile new normal.