2022
DOI: 10.46557/001c.37691
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Russia–Ukraine War and US Oil Prices

Abstract: This study analysed the influence of the ongoing Russia–Ukraine war on US oil prices. The quantile regression estimates revealed that the war increased oil prices. The wavelet coherence analysis also revealed that the war played a key role in oil prices. The study suggested policies that reduced oil prices, such as transition towards renewable energy sources and the provision of government incentives, to minimize the impact of the war.

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Cited by 14 publications
(5 citation statements)
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“…Due to this political war, the regular transportation of oil and refined goods has been upended affecting trade and resulting in one of the most significant upheavals in the worldwide energy sector in decades [Appiah-Otoo (2023)]. However, the United States is the most sensitive to the impacts of the financial crisis of 2008 on the oil price-trade link confirming Chang's (2011) findings.…”
Section: The Regression Results Displayed In Tablementioning
confidence: 65%
“…Due to this political war, the regular transportation of oil and refined goods has been upended affecting trade and resulting in one of the most significant upheavals in the worldwide energy sector in decades [Appiah-Otoo (2023)]. However, the United States is the most sensitive to the impacts of the financial crisis of 2008 on the oil price-trade link confirming Chang's (2011) findings.…”
Section: The Regression Results Displayed In Tablementioning
confidence: 65%
“…The oil prices were also lifted in the 1990 Kuwait invasion and the Iraq war in 2003 stated in Coleman's study [2]. This is also supported by one of the most recent studies that analyzed the Russia-Ukraine war and US oil price conducted by Isaac Appiah-Otoo [3] points out that the war increased oil prices and suggest a policy to transit towards renewable energy sources. Based on the previous literature, it is obvious that war is a positive shock to oil prices, and the Russia-Ukraine war, specifically, also increased crude oil prices.…”
Section: Studies Related To War and Crude Oil Pricementioning
confidence: 67%
“…During the Russia-Ukraine conflict, the most affected region was Europe due to its dependency on Russian energy and the sanctions imposed on the country ( Mbah & Wasum, 2022 ). Still, it is not imprecise to say that the rest of the world is experiencing almost the same conditions and that they are struggling due to the increases in oil prices ( Appiah-Otoo, 2022 ; Surya Wicaksana et al , 2022 ). In the case of LAC, countries in the region have been very dependent on liquid fuel imports for several years due to their necessity to supply the increasing consumption of a growing population and because of economic development ( Sheinbaum-Pardo & Ruiz, 2012 ).…”
Section: Literature Reviewmentioning
confidence: 99%