Fundamentals, Speculation, and the Pricing of Crude Oil Futures

Business & Finance, Finance & Investing, Finance
Cover of the book Fundamentals, Speculation, and the Pricing of Crude Oil Futures by Thomas Hoehl, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Thomas Hoehl ISBN: 9783656047674
Publisher: GRIN Verlag Publication: November 4, 2011
Imprint: GRIN Verlag Language: English
Author: Thomas Hoehl
ISBN: 9783656047674
Publisher: GRIN Verlag
Publication: November 4, 2011
Imprint: GRIN Verlag
Language: English

Master's Thesis from the year 2011 in the subject Economics - Finance, grade: 8,0, Maastricht University (School of Business and Economics), language: English, abstract: This study finds that while a large part of the variation in crude oil futures prices is driven by fundamental factors, financial investment and speculation has the potential to aggravate reactions to changing fundamental variables and furthermore move prices on its own. The evidence is gathered by performing linear regressions and Granger Causality tests on futures returns, position data of different categories of futures traders on the New York Mercantile Exchange and proxies for relevant fundamental factors such as equity and exchange rate returns gathered from August 2006 to December 2010. While higher prices for crude oil naturally come along with increasing physical demand and finite world supply, future regulation might temper market volatility and guarantee that prices reflect a sustainable physical market equilibrium. The study also gives an overview of commodity market regulation and position limits on futures markets.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Master's Thesis from the year 2011 in the subject Economics - Finance, grade: 8,0, Maastricht University (School of Business and Economics), language: English, abstract: This study finds that while a large part of the variation in crude oil futures prices is driven by fundamental factors, financial investment and speculation has the potential to aggravate reactions to changing fundamental variables and furthermore move prices on its own. The evidence is gathered by performing linear regressions and Granger Causality tests on futures returns, position data of different categories of futures traders on the New York Mercantile Exchange and proxies for relevant fundamental factors such as equity and exchange rate returns gathered from August 2006 to December 2010. While higher prices for crude oil naturally come along with increasing physical demand and finite world supply, future regulation might temper market volatility and guarantee that prices reflect a sustainable physical market equilibrium. The study also gives an overview of commodity market regulation and position limits on futures markets.

More books from GRIN Verlag

Cover of the book Unterrichtseinheit zur Wiederholung der Prozentrechnung - Werkrealschule, Klasse 9 by Thomas Hoehl
Cover of the book Ist die Handelspolitik der Industriestaaten verantwortlich für Afrikas Marginalisierung im Welthandel by Thomas Hoehl
Cover of the book Adam Smith: Kritik der Maßnahmen merkantilistischer Politik-Ökonomie by Thomas Hoehl
Cover of the book Elektrophysiologie des Herzens by Thomas Hoehl
Cover of the book Akustische Umwelt by Thomas Hoehl
Cover of the book Mediale Inszenierung Rommels by Thomas Hoehl
Cover of the book Voraussetzungen und Hilfsmittel für ein erfolgreiches Food & Beverage Controlling by Thomas Hoehl
Cover of the book Der polnische Adel und die Adelskultur bis zu den polnischen Teilungen 1772 by Thomas Hoehl
Cover of the book Ursprung und Interpretation des Dekalogs 'Exodus 20, 1-17'. Die zehn Gebote by Thomas Hoehl
Cover of the book Sterbehilfe in der pluralistischen Gesellschaft. Versuch einer ethischen Bewertung der aktuellen Sterbehilfedebatte in der Bundesrepublik Deutschland by Thomas Hoehl
Cover of the book Leasing versus Kauf by Thomas Hoehl
Cover of the book Ärztlicher Heileingriff als Körperverletzung by Thomas Hoehl
Cover of the book Der Einsatz von Stirling-Maschinen als Kühlaggregat by Thomas Hoehl
Cover of the book Theorie und Praxis der Förderung eines Kindes mit Asperger-Syndrom by Thomas Hoehl
Cover of the book Formelle und Informelle Gruppen by Thomas Hoehl
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy