Conflict-Sensitive Industries in Reg CF vs. WTI Oil Price

3-month rolling average of raises launched by industry and WTI crude ($/bbl) · Jan 2020 – Dec 2024

Energy & Natural Resources (r=0.47) Transportation & Aerospace (r=0.24) Defense & Security (r=0.28) Logistics & Supply Chain (r=0.23) WTI crude (right axis) Conflict event

All industry series show 3-month trailing rolling average. First two months (Jan–Feb 2020) omitted.

Sources: Kingscrowd / SEC EDGAR (Reg CF Form C filings) · U.S. EIA via FRED (DCOILWTICO)