Lower Crude Oil Pressures Stock and Commodity Prices

Even after more than 40 years in the business, I am still confused by the impact of crude oil prices on the stock and commodity markets. 

In the 1970s, I was just learning about the futures market when OPEC (Organization of the Petroleum Exporting Countries) got tough for the first time and raised the price of crude oil. 

In 1973, OPEC flexed its muscle and embargoed oil exports. Crude oil prices flew from $10 per barrel to $40 per barrel. This had an inflationary impact on the U.S. and global economies.