This morning's rally is fading fast, maybe trump's pump this morning did not work. I cannot believe anyone would defend an American President trying to pump the stock market when he doesn't see what he wants.
The stock market is teetering, meanwhile oil itself is rising. The price of oil directly affects each American, and the entire world economy.
We might not like oil or it's by products. But the world uses it in abundance. Every time oil increases, the price of so many other things also rise.
The supply chain is just a word, but it involves the flow of goods and services. Relatively unknown companies that supply small products can get derailed when oil rises. Their margins are not large, and when they get squeezes, they slow down, and that disrupts everyone.