› › The Role Of Market Speculation In Rising Oil And Gas Prices

Oil Price Volatility and the Role of Speculation

Author : Samya Beidas-Strom

Publisher : International Monetary Fund

Page : 34 pages

File Size : 48,12 MB

Release : 2014-12-12

Category : Business & Economics

ISBN : 1498333486

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Book Description

How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be observationally equivalent in a SVAR model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and inventories. Second, we impose additional restrictions on the set of admissible models embodying the assumption that the impact from noise trading shocks in oil derivative markets is temporary. Our additional restrictions effectively put a bound on the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short-run impact is smaller than that of flow demand shocks but possibly larger than that of flow supply shocks.





The Oil Bubble

Author : Samuel P. Irvin

Publisher :

Page : 78 pages

File Size : 30,98 MB

Release : 1868

Category : Speculation

ISBN :

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Global Implications of Lower Oil Prices

Author : Mr.Aasim M. Husain

Publisher : International Monetary Fund

Page : 41 pages

File Size : 28,79 MB

Release : 2015-07-14

Category : Business & Economics

ISBN : 151357227X

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Book Description

The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.





Commodity Price Dynamics

Author : Craig Pirrong

Publisher : Cambridge University Press

Page : 239 pages

File Size : 22,2 MB

Release : 2011-10-31

Category : Business & Economics

ISBN : 1139501976

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Book Description

Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.





Monetary Policy and Crude Oil

Author : Basil Oberholzer

Publisher : Edward Elgar Publishing

Page : 389 pages

File Size : 36,64 MB

Release : 2017-07-28

Category : Business & Economics

ISBN : 1786437899

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Book Description

The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the exceptional conduct of monetary policy. This book investigates the impacts of monetary policy and the financial system on the global crude oil market. Furthermore, it outlines how monetary policy may also be used to guarantee stability and to contribute to ecological sustainability.



Why We Hate the Oil Companies

Author : John Hofmeister

Publisher : Macmillan

Page : 256 pages

File Size : 41,47 MB

Release : 2011-08-30

Category : Political Science

ISBN : 0230106781

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Book Description

As president of Shell Oil, John Hofmeister was known for being a straight shooter, willing to challenge his peers throughout the industry. Now, he's a man on a mission, the founder of Citizens for Affordable Energy, crisscrossing the country in a grassroots campaign to change the way we look at energy in this country. While pundits proffer false new promises of green energy independence, or flatly deny the existence of a problem, Hofmeister offers an insider's view of what's behind the energy companies' posturing, and how politicians use energy misinformation, disinformation, and lack of information to get and stay elected. He tackles the energy controversy head-on, without regard for political correctness. He also provides a new framework for solving difficult problems, identifying solutions that will lead to a future of comfortable lifestyles, affordable and clean energy, environmental protection, and sustained economic competitiveness.



Commodity Prices and Markets

Author : Takatoshi Ito

Publisher : University of Chicago Press

Page : 346 pages

File Size : 15,61 MB

Release : 2011-03

Category : Business & Economics

ISBN : 0226386899

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Book Description

Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.