Charles, Amélie; Darne, Olivier - HAL - 2009
This study examines the random walk hypothesis for the crude oil markets, using daily data over the period 1982 …-2008. The weak-form efficient market hypothesis for two crude oil markets (UK Brent and US West Texas Intermediate) is tested … find that the Brent crude oil market is weak-form efficiency while the WTI crude oil market seems to be inefficiency on the …