That’s because the correlation between crude oil and stocks has not been stable over time. For several decades prior to 2000, for example, that correlation was negative, as you can see in the chart below. During those decades, higher oil prices in a given month led to below-average stock-market returns in the subsequent month.

U.S. stocks rallied, and oil prices tumbled on hopes that Iran will not disrupt the global flow of crude, even with the United States’ entry into its war with Israel. A barrel of benchmark U.S.

Well-supplied markets and weakening demand for crude concern American drillers.

Markets were initially nervous Sunday as oil futures opened for trading. The price of Brent crude, the international standard, had jumped 4% as traders anxiously watched the Strai