Showing papers on "Brent Crude published in 1997"
TL;DR: In this paper, the effects of a relatively low toxicity compound, biodiesel (rape seed oil methyl ester) on the rate of removal and weathering characteristics of crude oil within artificial sand columns are thoroughly investigated using GC/MS techniques.
75 citations
TL;DR: In this paper, the authors analyzed the extent to which self-regulation should be carried out in the context of a repeated game and concluded that unless the probability of a squeeze is very small, self-regulatory should be possible.
Abstract: Squeezes are registered in the forward market for Brent crude oil. The squeezer accumulates forward contracts and creates artificial demand. This causes the price to surge and introduces uncertainty about the market outcome. Squeezes therefore render the market institution less palatable to other market participants. Producers may have a longterm interest in keeping market clearing smooth, e.g., by supplying stocks to squeezed traders. The extent to which such self-regulation should be carried out is analyzed in the context of a repeated game. Unless the probability of a squeeze is very small, self-regulation should be possible. Copyright 1997 by Royal Economic Society.
7 citations
01 Jan 1997
TL;DR: In this paper, an error-correction representation of two standard futures pricing models, namely the unbiased expectations and cost-of-carry hypotheses, are formulated for SIMEX Brent crude oil futures contracts.
Abstract: Brent crude oil futures contracts are traded on both the Singapore International Monetary Exchange (SIMEX) and the International Petroleum Exchange (IPE). Through a mutual offset system between SIMEX and IPE, Brent crude oil futures contracts can be traded up to nineteen hours each day. The inter-relationship between the two futures contracts, the spot price of Brent crude oil and the riskfree interest rate, suggest the existence of cointegration among SIMEX Brent crude oil futures prices, lagged IPE Brent crude oil futures prices, Brent spot prices and the London Inter-bank Offer Rate (LIBOR). Error-correction representations of two standard futures pricing models, namely the unbiased expectations and cost-of-carry hypotheses, are formulated for SIMEX Brent crude oil futures contracts. These formulations are augmented by including the lagged IPE futures price in the mispricing error. The resulting Augmented Unbiased Expectations Hypothesis (AUEH) and the Augmented Cost-of-Carry (ACOC) models are estimate...
2 citations