Oil prices have been increasingly volatile since 2004. However, the impact of this volatility on domestic end-user prices differs significantly by fuel and country. Some countries fully pass through global price movements to domestic end-user prices, and some countries freeze domestic fuel...

The rapid growth of US ethanol production, driven by the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007, has raised questions about intensifying price linkages between energy and food markets. This is based on the premise that higher crude oil prices incentivize...

This study employs asymmetric quantile regression to investigate the asymmetric impact of WTI crude oil prices and economic policy uncertainty (EPU) on stock market returns from May 2014 to December 2024 in oil-importing (China, India, Germany, Italy, Japan, USA, and South Korea) and...

The Islamic Republic of Mauritania will soon commence gas production through the Grand Tortue Ahmeyim, a major natural gas development situated offshore between Mauritania and Senegal. This mission assessed the current situation of the management of the hydrocarbon tax revenues and provided...

To ensure energy security for emerging economies, it is imperative to explore the impacts of economic policy uncertainty (EPU) and geopolitical risk (GPR) on oil imports in China (COI) and India (IOI). An innovative wavelet quantile correlation framework is devised to dissect EPU-COI, GPR-COI,...

The European Union’s Methane Emissions Regulation (EU MER), effective from August 2024, introduces a methane intensity standard for fossil fuel imports into the EU. It places new compliance requirements on EU importers and, indirectly, on non-EU producers and exporters, including those...

The recurrence of international geopolitical events has intensified tensions in global energy supply chains. As a major crude oil consumer, China urgently needs to identify vulnerabilities within its crude oil supply chain (COSC) and implement targeted measures to safeguard national energy...

This study examines the simultaneous relationships among oil prices, oil volatility, and two sub-sectors within alternative energy stocks: renewable energy equipment (REE) and alternative fuels (AF). The results confirm the existence of a bidirectional relationship. While most alternative energy...

We investigate linkages between three different markets: renewable energy (represented by a range of renewable energy ETFs); traditional energy (represented by crude oil ETF); and common stocks (represented by the S&P 500 Index ETF). We use daily data from 2008 to 2021. The econometric framework...

We study the effectiveness of textual information in predicting the returns of crude oil futures and understanding the behavior of market participants. Using a machine learning method to extract oil market sentiment from news articles, we find that the computed sentiment is significantly...

Geopolitics is an overarching characteristic of much of this outlook for the key themes in the global energy economy in 2025. The start of Donald Trump’s second term in the White House will herald new pressures to multiple layers of the global economy, from trade to labour, monetary policy to...

To reduce funds for Russia’s Ukraine invasion, Western governments imposed a price ceiling on Russian seaborne oil exports using Western services. To sell above that ceiling, Russia developed a “shadow fleet” which uses no such services. We use a calibrated model driven by this fleet’s...

Amid the growing debate over how cryptocurrencies are reshaping global finance, this study explores the nexus between Bitcoin, Brent Crude Oil, Gold and the U.S. Dollar Index. We used a time-varying vector autoregressive (tvVAR) model to examine the connection among these four assets during the...

This paper presents the first formal comparison of Value at risk (VaR) forecasting performance across various high-frequency volatility models and conventional benchmarks using daily data in the crude oil futures market. Our analysis reveals the following key findings:(1) High-frequency data...

This paper applies the R² connectedness method proposed by Balli et al. (2023) to analyse contemporaneous and lagged connectedness between returns on several asset classes (sector ETFs, Bitcoin, stock market indices, Brent crude oil) over the period 1 January 2023 – 22 September 2025, in the...

We investigate the impact and propagation of geopolitical risk among oil-based energy commodities. First, we endogenously identify key geopolitical events affecting the connectedness among the oil-based commodities and then evaluate their transitory and persistent impacts. We identify four major...

Research background: Algeria heavily relies on its oil revenues, being one of the leading crude oil producers in Africa and a key member of OPEC. This dependency exposes its economy to the volatility of oil prices in international markets, which can have significant repercussions on its...

This paper proposes an augmented heterogenous autoregressive (HAR) model with time-varying jumps to forecast the realized volatility (RV) of crude oil futures. Jump-induced volatility of crude oil futures is obtained from a GARCH-jump process, then used to augment the HAR model. The results...

In this study, we investigate the dynamic relationship between return and liquidity in the Brent and the West Texas Intermediate (WTI) oil markets. The research utilises daily oil price and volume data and monthly macroeconomic data from January 1, 1996 to April 28, 2023 obtained from the Energy...

This study investigates the time-varying return spillovers among the gold and oil markets and the Chinese equity subsectors using a network system representation. The results of the statics analysis show that crude oil and the majority of equity sectors are the net transmitters of spillovers in...

For the last 50 years or so, the efficient market hypothesis (EMH) has been the central pillar of economic thought and the building block of portfolio theory. However, the validity of the EMH still remains controversial, and the methods of testing for market efficiency have been criticised. This...