Topic
Brent Crude
About: Brent Crude is a research topic. Over the lifetime, 548 publications have been published within this topic receiving 9879 citations.
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TL;DR: In this paper, the importance of combining high frequency financial information along with the oil market fundamentals, in order to gain incremental forecasting accuracy for oil prices was examined, and the combination of the latter with high-frequency financial data significantly improved oil price forecasts, by reducing the RMSE of the no-change forecast by approximately 68%.
58 citations
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TL;DR: In this paper, the effect of OPEC production decisions (increase, cut, maintain) on both WTI and Brent crude oil prices between Q1 1991 and Q1 2015 by employing the event study methodology and by using two indices as benchmarks (BCI and S&P GSCI).
54 citations
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TL;DR: In this article, empirical analyses are used to investigate univariate and multivariate relationships between Alaska North Slope and UK Brent oil prices, showing that both price series follow a random walk and that these oil markets share a long-run common trend.
Abstract: In order to study the inter-relationships of international crude oil markets, empirical analyses are used to investigate univariate and multivariate relationships between Alaska North Slope and UK Brent oil prices. Using monthly data from the period 1974–1996, the results show that both price series follow a random walk and that these oil markets share a long-run common trend. The empirical results suggest that the two markets are ‘unified’. That is, they are competitive, and there is price convergence in the markets.
53 citations
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TL;DR: In this paper, a hybrid vector error correction and nonlinear autoregressive neural network (VEC-NAR) model was proposed to deal with three characteristics of crude oil prices, namely, their lag, nonlinearity and interrelationship among different oil markets, which cannot be handled simultaneously by most traditional crude oil price forecasting models.
53 citations
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TL;DR: The authors investigated the time-varying effects of global economic policy uncertainty (GEPU) shocks on the volatility of two international pricing benchmarks for crude oil (Brent and WTI) under dynamic structural changes.
52 citations