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Return of the oil shock: lessons from a crisis New Zealand has seen before

By Basil Sharp, Professor of Energy Economics, University of Auckland, Waipapa Taumata Rau

The world’s energy situation is growing more volatile by the day.

The US-Israel war on Iran has effectively shut one of the world’s most important oil choke points, the Strait of Hormuz, sending the price of Brent crude over US $100 a barrel for the first time since the…

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