The Economic Times

1970s-like oil crisis ahead? Heres why todays crude spike reminds analysts of Arab oil embargo-led 300% rally

Oil prices have reached multi-month peaks. The conflict between Iran and Israel-US has led to the closure of the Strait of Hormuz. This situation mirrors the 1970s oil crisis. Analysts warn of further price increases if the disruption continues. Investors are advised to approach the market cautiously.