Commodities
Global Energy Crises Surge Amid Military Conflict and Supply Disruptions
Recent global energy crises have been driven by military conflict, extreme weather, regulatory gridlock, and supply chain disruptions.
The frequency of these shocks is increasing, leading to price spikes and inflation.
Historically, the price of crude oil was stable, but the 1973 Arab embargo marked a turning point in market volatility.
Recent major shocks include the COVID-19 pandemic, Russia's invasion of Ukraine, and the Iran war, which has disrupted fossil fuel supply lines and caused significant price spikes.