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It is too soon to know whether current events will be nearly as momentous as those of 1973 — for the region, for the U.S. or for the world at large. But it is also possible they could be more so.
Exactly 50 years ago, Egypt and Syria invaded Israel, which triggered the first ever global oil price shock. Arab petrostates imposed an oil embargo, causing economic havoc. Will history repeat itself?
Energy - A favourable climate has led to moderate energy consumption across Europe, in spite of warnings of gas shortages and the shutting down of nuclear plants.
Daniel Yergin, vice chairman of S&P Global, says the Israel-Hamas war is a "geopolitical risk," but it won't spark an oil crisis unless Iran gets involved.
The Israel-Hamas conflict has revived memories of the Yom Kippur War that sparked the 1973 oil crisis. Deutsche Bank’s strategists even warned this week that…