Cycle’s start

End

Duration

Peaks

Troughs

Joker

1951

1956

6 years

1951:1 year

1956:1 year

1952-1955: 4 years

1951 Korean war; 1st Suez Canal’s closure 1956

1967

1970

1970

1974

4 years

5 years

1967: 1 year

1970:1 year

1973-1974: 2 years

1968-1969: 2 years

1971-1972: 2 years

2nd Suez Canal closure the 6 days war;

The Yom Kippur war

1980

1989

1995

1989

1995

2004

10 years

7 years

10 years

1980:5 years;

4 years

1995

2004

2007 13 years

1982-86: 5 years;

1992-4: 3 years

1997-2002: 6 years

Iranian revolution.

Iran-Iraq war.

Dot.com. crisis

Kuwait war;

Asian crisis;

China’s boom;

2005

2008

4 years

2003-2008: 6 years

2009

2013

5 years

2009-13: 5 years

Sub-prime house loans crisis 2008-13

2020

2021

1 year

COVID-19 pandemic