Macro
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month values ▾
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -0.72 | +0.80 | -0.68 | +0.70 | +0.65 | +0.60 | +0.55 | +0.50 | +0.45 | +0.45 | -0.48 | -0.54 |
The quadrupled price locked in through 1974 delivered record oil-company profits, but a deepening recession destroyed demand and windfall-tax threats and price controls loomed, so euphoria cooled steadily through the year.
How this mood is scored ▾
In 1974, Arab oil-producing nations ended a five-month embargo on petroleum exports to the U.S., imposed in retaliation for American support of Israel during the 1973 Middle East War. The embargo had caused U.S. gasoline prices to surge by 300%, triggering economic strain and energy policy shifts. The lifting of the embargo marked a de-escalation in energy-driven geopolitical tensions, with potential stabilization in global oil markets.