The Globe and Mail reports in its Saturday edition that the conflict in Iran is shaking up the structure of oil and gas markets, as countries that face a severe supply crunch look for stable supplies and try to increase their energy independence. The Globe's Emma Graney writes that despite the precarious ceasefire in the conflict brokered this week, the effect of the war on global markets shows no signs of letting up. The Strait of Hormuz essentially remains closed and Iranian attacks on energy infrastructure continue. The shuttering of the strait has countries that rely on Middle Eastern crude -- particularly those in Asia -- grappling with increasing paucity of oil and gas. Pakistan and the Philippines have moved to a four-day work week for public officials, and Bangladesh has closed universities. Airlines across Asia are trimming flight schedules because they do not have enough jet fuel. The fact that the market is unlikely to go back to business as usual -- even when peace prevails -- has highlighted the need for diversified and flexible portfolios. The supermajor oil companies will look to diversify the markets where they invest to avoid being beholden to individual countries, regions and supply chains.