Unveiling the impact of geopolitical conflict on oil prices: A case study of the Russia-Ukraine War and its channels

Zhang, Qi; Yang, Kun; Hu, Yi; Jiao, Jianbin; Wang, Shouyang

doi:10.1016/j.eneco.2023.106956

Cited by 21 publications

(3 citation statements)

References 42 publications

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“…Cui and Maghyereh (2023) explore the risk connectivity among international commodity futures and oil futures after the onset of the Russia-Ukraine conflict, finding time-varying positive correlations between commodity and oil futures, which have strengthened with the outbreak of the conflict. Zhang et al (2023a) unveil the impact and transmission channels of the Russia-Ukraine conflict on oil prices.…”

Section: Literature Reviewmentioning

confidence: 99%

International Comparison on the Application of Information Technology in High School Mathematics Textbooks

Zhou

2021

School Mathematics Textbooks in China

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Ultra-dense networks are widely regarded as a promising solution to explosively growing applications of Internet-of-Things (IoT) mobile devices (IMDs). However, complicated and severe interferences need to be tackled properly in such networks. To this end, both orthogonal multiple access (OMA) and non-orthogonal multiple access (NOMA) are utilized at first. Then, in order to attain a goal of green and secure computation offloading, under the proportional allocation of computational resources and the constraints of latency and security cost, joint device association, channel selection, security service assignment, power control and computation offloading are done for minimizing the overall energy consumed by all IMDs. It is noteworthy that multi-step computation offloading is concentrated to balance the network loads and utilize computing resources fully. Since the finally formulated problem is in a nonlinear mixed-integer form, it may be very difficult to find its closed-form solution. To solve it, an improved whale optimization algorithm (IWOA) is designed. As for this algorithm, the convergence, computational complexity and parallel implementation are analyzed in detail. Simulation results show that the designed algorithm may achieve lower energy consumption than other existing algorithms under the constraints of latency and security cost.

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Section: Literature Reviewmentioning

confidence: 99%

International Comparison on the Application of Information Technology in High School Mathematics Textbooks

Zhou

2021

School Mathematics Textbooks in China

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“…The Russia-Ukraine war has underscored the critical role of EE in reducing reliance on fossil fuels, particularly from Russia, and strengthening energy security [227]. By improving EE, countries can conserve energy resources, reduce their energy consumption, and lower their overall energy bills.…”

Section: Accelerated Transition To a Low-carbon Economymentioning

confidence: 99%

The Influence of the Global Energy Crisis on Energy Efficiency: A Comprehensive Analysis

Gajdzik,

Wolniak,

Nagaj

et al. 2024

Energies

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The global energy crisis, which began in 2021 due to the extraordinary economic recovery after the pandemic and intensified after Russia’s invasion of Ukraine in February 2022, has changed the conditions of energy management, paying more attention to energy efficiency. Natural gas prices have reached record levels and, consequently, so have electricity prices in some markets. Oil prices have reached their highest level since 2008. Higher energy prices have contributed to sharply increased inflation. Households are again becoming interested in buying coal as a source of heat. High energy and gas prices have pushed many families into poverty and forced some factories to cut production or even close. They have also slowed economic growth to the point where some countries are heading for a serious recession. Paradoxically, the negative effects of the energy crisis may accelerate the introduction of cleaner, sustainable, renewable energy such as wind and solar energy. The energy crisis is comparable to the oil crisis of the 1970s, when it contributed to significant advances in energy efficiency. The current crisis has highlighted the importance of investments in renewable energy resources and initiated the process of integrating regional markets, developing energy efficiency and promoting renewable energies. The aim of this article is to comprehensively explore the complex relationship between energy awareness, consumption patterns, and energy efficiency, with a focus on both individual consumers and industries, during the global energy crisis. This paper is based on a literature review, overarching policy documents, energy reports, and other secondary documents. The primary research method was the systematic literature review method, based on which the impact of the global energy crisis on energy efficiency was evaluated. This study emphasizes the diverse influences on energy awareness, ranging from economic factors to consumer preferences and environmental consciousness. The findings of the paper underscore the significant responsibility of industries in contributing to energy-saving efforts and the active role of consumers in the energy market. The responsibility of industries in contributing to energy efficiency is highlighted, with a call for a comprehensive approach that integrates energy-saving criteria into product development and corporate social responsibility.

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“…As highlighted by Peri et al (2013), CBOT grain futures prices, which are more liquid and can rapidly incorporate new information, generally lead physical spot prices. This explains why recent studies on the impact of the Ukraine-Russia war on the commodities market have used grain (e.g., Carter & Steinbach, 2023), wheat (e.g., Turvey et al, 2023), oil (e.g., Zhang et al, 2023) and commodity (e.g., Dodd et al, 2022) futures prices in their empirical analyzes. Behavioral theories, on the other hand, contradict this hypothesis, claiming that investors may overreact to news about geopolitical risk and conflicts (e.g., Zaremba et al, 2022).…”

Section: Impact Of Geopolitical Risks and Conflicts On Agricultural C...mentioning

confidence: 99%

Short‐term market impact of Black Sea Grain Initiative on four grain markets

Martins

2024

Journal of Futures Markets

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This paper examines the short‐term market reaction of four agricultural commodities to the Russian–Ukraine war and various stages of the Black Sea Grain Initiative Agreement. Using an event study, the results show a positive abnormal return for the agricultural grain markets with the outbreak of the war and the nonrenewal of the Black Sea Grain Agreement. These two events by causing supply‐side constraints, led to an increase in the price of grains. The results also show negative and statistically significant abnormal returns around the signing of the Black Sea Grain Agreement, its implementation through the departure of the first ship loaded with Ukrainian grain after the beginning of the war and the successive extensions of the agreement. These disruptions not only affect Ukraine and Russia but also have critical implications for world food security. Policy implications of our findings are provided.

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Unveiling the impact of geopolitical conflict on oil prices: A case study of the Russia-Ukraine War and its channels

Cited by 21 publications

References 42 publications

International Comparison on the Application of Information Technology in High School Mathematics Textbooks

International Comparison on the Application of Information Technology in High School Mathematics Textbooks

The Influence of the Global Energy Crisis on Energy Efficiency: A Comprehensive Analysis

Short‐term market impact of Black Sea Grain Initiative on four grain markets

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