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来源类型Energy Comments
规范类型评论
Price Formation in Oil Markets: Some Lessons from 2009
Bassam Fattouh
发表日期2010-03-01
出版年2010
页码11
语种英语
概述This comment analyses the oil price dynamics in 2009 arguing that 2009 represents a remarkable year in at least two respects: it witnessed the sharpest increase in spot oil prices in decades; and in the second half of 2009 it exhibited a high degree of relative stability despite a very uncertain and volatile global economic […]
摘要This comment analyses the oil price dynamics in 2009 arguing that 2009 represents a remarkable year in at least two respects: it witnessed the sharpest increase in spot oil prices in decades; and in the second half of 2009 it exhibited a high degree of relative stability despite a very uncertain and volatile global economic environment. The 2009 price dynamics indicate that the existing frameworks for the analysis of oil prices need to be modified to take into account new features of the market and the interaction among the various players. Furthermore attempts to identify the relative importance of fundamentals versus speculation in explaining the last price cycle are of limited use. Instead one should attempt to endogenise the role of financial players and understand the conditions under which these players behave in certain ways.
主题Energy Economics ; Finance ; Oil ; Oil & Middle East Programme
关键词Demand fundamentals Investors Markets Oil Markets Price Price Dynamics Supply WTI
URLhttps://www.oxfordenergy.org/publications/price-formation-in-oil-markets-some-lessons-from-2009/
来源智库Oxford Institute for Energy Studies (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/312147
推荐引用方式
GB/T 7714
Bassam Fattouh. Price Formation in Oil Markets: Some Lessons from 2009. 2010.
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