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Price shocks in the global energy market, like the ones we are currently experiencing, are nothing new. In 1973, oil prices quadrupled when the Yom Kippur War led the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production. Six years later, prices doubled after the Iranian revolution. In 2022, natural gas and oil prices hit record highs when Russia’s invasion of Ukraine disrupted European and Asian energy supplies. The US-Israeli war on Iran is but the latest crisis to affect global energy prices.