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Economy News

The Economic Times

Economy / The Economic Times

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Hormuz oil shock echoes 1973 embargo lessons

The recent Strait of Hormuz closure, though brief, signals a potential turning point for global energy. Echoing the 1973 oil embargo, this crisis highlights the vulnerability of interconnected markets. Nations are now prioritising energy security over cost, accelerating investments in domestic renewables, nuclear and even coal, alongside efficiency measures.

26 Jun 2026 11:41 am