Why is "1970s commodities boom" trending?
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- Ranking position: #
- Date: 2026-03-07 16:55:52
This topic has appeared in the trending rankings 1 time(s) in the past year. While it does not trend frequently, its appearance suggests a renewed or concentrated surge of public interest.
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Wikipedia Overview
The 1970s commodities boom refers to the rise of many commodity prices in the 1970s. Excess demand was created with money supply increasing too much and supply shocks that came from Arab–Israeli conflict, initially between Israel and Egypt. The Six-Day War where Israel captured and occupied the Sinai Peninsula for 15 years, the Closure of the Suez Canal (1967–1975) for 8 years of that, led to supply shocks. 66% of oil consumed by Europe at that time came through the Suez Canal and had to be redirected around the continent of Africa. 15% of all maritime trade passed through the Suez Canal in 1966, the year before it closed.
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