How do supply or demand shocks affect the US oil market?
José Carlos Vides,
Julia Feria,
Antonio A. Golpe
et al.
Abstract:The study of the relationship between crude oil and its refined products prices may be perceived as an important tool for testing how are the dynamics and the type of integration of the petro-derivatives market in the United States. In this sense, we have applied a set of causality tests to study the possible presence of asymmetries in the relationship between WTI crude oil and each refined product price and to explore the type of market integration. Furthermore, the application of these causality tests lets u… Show more
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