Which 1970s oil-related crisis accompanied the global stock-market crash of 1973–1974?

The 1973 oil-related crisis that accompanied the global stock-market crash of 1973–1974 was the 1973 oil crisis.

In October 1973, Arab members of OPEC and several allied oil producers announced an oil embargo against countries seen as supporting Israel during the Yom Kippur War. Oil prices rose sharply, and the shock spread through economies that depended on imported petroleum.

The market crash occurred within a wider period of inflation, recession, currency instability, and political uncertainty. From its peak in January 1973 to its trough in December 1974, the Dow Jones Industrial Average lost about 45% of its value. The oil shock was an important contributor, but it was not the only cause.

The crisis is sometimes confused with the separate Iranian oil crisis of 1979. Both produced energy-price disruptions, but the 1973 event followed the Middle East war and the embargo, while the 1979 shock followed the Iranian Revolution.