Fun Fact Friday: 1983 – The Year Oil Hit Wall Street
- Frances Yeager
- 3 days ago
- 1 min read
When oil made its debut as a Wall Street headliner.
The Big Fun Fact:
In '83, the New York Mercantile Exchange (NYMEX) launched crude oil futures trading. For the first time, people could trade oil prices like stocks.
That move changed everything. Oil was no longer just a product. It became a signal for the global economy, a hedge for producers, and a hot ticket for investors looking to play the market.
📈 Why It Mattered:
Producers could protect themselves from wild price swings by locking in future prices.
Investors and traders suddenly had a way to profit off oil without ever touching it.
Prices started reacting to global headlines, not just physical supply and demand.
🧠 Bonus Trivia:
Crude oil quickly became one of the most traded commodities on the planet. Only coffee gave it a run for its money!
And on the Ground...
Fuel distributors were living in a more unpredictable world. Prices could shift overnight, so flexibility became essential. Success wasn't just about selling fuel, instead it was about having the right systems, the right partners, and the ability to pivot fast.
Companies like EOH were already adapting to that new reality, helping stations modernize and making sure customers could keep up with the pace of change.
From trading floors to fuel floors, 1983 reminded us that innovation shows up everywhere.