This oil shock will hit Asia harder than the 1970s

Asia faces a severe oil shock that analysts warn will hit harder than the 1970s energy crisis. Over 80 percent of oil and gas through the Strait of Hormuz flows east, where most countries depend heavily on imports. Airlines have cut May schedules 10-15 percent as jet fuel doubled, while food prices surge across Japan and South Korea.

Summary by Glance · SMH