Nairobi, May 25 -- Since the US and Israel launched their war with Iran, the narrow Strait of Hormuz has effectively been shut to shipping traffic. That has disrupted the flow of oil, gas and other essentials from the Gulf States, which normally export about a fifth of the world's oil.

If you love history and read a bit, try understanding the oil shocks that happened in the 1970s, specifically 1973 and 1979.

This will make you get a grasp of the current situation in Hormuz, disrupting the global oil supply chain. In 1973, Arab oil producers placed an embargo on a group of countries led by the US over their support for Israel during the Yom Kippur War.

That policy came alongside a coordinated cut to oil production. The result was a near...