Oil Supply Shock

Dated events

1. Oct. 19, 1973 · Arab oil producers impose oil embargo on the U.S. during Yom Kippur War
   Arab oil-producing countries stopped selling oil to countries supporting Israel, causing oil prices to quadruple within months. Gas lines formed at stations across America and Europe as fuel became scarce and expensive.
2. Jan. 16, 1979 · Shah leaves Iran as revolution and oil workers' strikes cut Iran's output
   Iran's ruler, the Shah, fled the country as a revolution spread, after strikes by oil workers had cut Iran's oil output by an amount equal to about 7% of world production. Oil prices rose to record highs over the following year, causing widespread inflation in most countries.
3. Aug. 2, 1990 · Iraq invades Kuwait, seizing oil fields
   Iraq's military takeover of Kuwait, followed by a UN embargo on Iraq, took oil from the two countries, nearly 9% of world production, off the market. Oil prices spiked as traders feared the conflict would spread and disrupt more production.
4. Feb. 24, 2022 · Russia invades Ukraine, disrupting energy markets
   Russia's military action against Ukraine raised fears that oil and natural gas shipments from Russia would be cut off or blocked. Energy prices jumped sharply worldwide, pushing up costs for heating, electricity, and transportation.

Assets named in this scenario · 9

BPEni S.p.A.Euro (EUR)Gold · Gold FuturesRepsolShellSPDR S&P 500 ETF TrustTotalEnergies SETurkish Lira (TRY)

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