Half a century after the oil shocks of the 1970s, the pattern is returning with striking familiarity. Then, as now, geopolitical conflict disrupted energy supply, oil prices surged, and inflation spread rapidly across economies. The 1973 embargo and the 1979 Iranian Revolution showed how quickly energy markets could destabilize growth. Today’s crisis echoes that history, […]
read more Why today’s oil shock feels familiar and more dangerous