Intraday return predictability has firstly been identified in the equity markets, and we extend the analysis to the crude oil market by using high-frequency United States Oil Fund data from 2006 to 2018. We find a different intraday prediction pattern in the oil market, where only the first...

We study whether climate risk will affect the stock returns of fossil fuel companies in international markets. Our results show that in the world market, a 1% increase in climate risk will increase the stock returns of fossil fuel companies by 85 BP to 121 BP. We also prove that this climate...