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The Economic Times

National / The Economic Times

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Middle East war threatens energy crisis worse than 1970s oil shocks

A severe energy crisis looms as the Middle East war intensifies. Iran has blocked the vital Strait of Hormuz, impacting global oil supplies. The International Energy Agency warns of a crisis worse than past oil shocks. The conflict shows no signs of ending soon, with threats of further destruction exchanged between nations.

23 Mar 2026 1:54 pm