Citi has issued a warning that a 1970s-style oil shock could occur if the Strait of Hormuz remains closed until early 2027. The financial institution suggests that prolonged closure of this critical chokepoint for global oil shipments could lead to significant disruptions in oil supply, reminiscent of the energy crises experienced in the 1970s. The Strait of Hormuz is a vital passage for oil transportation, and its closure could have far-reaching impacts on global energy markets.