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The War on Oil
In 1973, when America supported Israel in its war with Egypt and Syria, OPEC countries retaliated by putting an embargo on oil shipments to the United States. Oil prices soared not just in America, but all over the world. Reminders came in the form of the revolution in Iran and the Iran-Iraq War, both of which again disrupted supplies. Four decades later, the oil market was rocked once again by Russia's invasion of Ukraine and the oil sanctions on Moscow that followed.