Iran oil shock stirs memories of 1997 Asian crisis — but here’s why history may not repeat itself
- Posted on April 9, 2026
- By CNBC
- 0 Views
In brief
Disruptions in the Strait of Hormuz are inflicting significant pressure on Asian economies through elevated oil prices and currency depreciation. While parallels to the 1997 financial crisis emerge, structural economic differences and improved policy frameworks suggest a comparable meltdown remains unlikely. Modern safeguards and diversified energy sources provide resilience absent thirty years ago.
Iran oil shock stirs memories of 1997 Asian crisis — but here’s why history may not repeat itself
The Hormuz disruption is hammering Asian economies with surging energy costs and weakening currencies, but a repeat of the crisis three decades ago is unlikly.
