Parfenov A.A.Published in:
Global Markets and Financial Engineering (Russian version)
– Volume 3, Number 4 (October-December 2016)



Keywords: linear regression, net investment position,Securitisation Special Purpose Vehicle WTI


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Abstract:

The article is devotes to the empirical analysis of the dynamics of WTI сrude oil spot price for the period 2008-2016. We reveal the relation between the US net investment position, securitization dynamics in the UK and the average monthly WTI сrude oil spot price.

Highlights:

•The supply-demand model describes the dynamics of oil at a very high level.
•Commercial oil reserves of developed countries largely explain the dynamics of oil.
•The oil price determines production rate of "shale" oil, and not vice versa.
•Net investment position and net investment income of the USA have a high degree of correlation with oil prices.

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References:
Akram Q. F. (2009). Commodity Prices, Interest Rates and the Dollar Energy Economics. (31). 838-851.
Breitenfellner A., Cuaresma, J. (2008). Crude Oil Prices and USD/EUR Exchange Rate Monetary Policy & The Economy. (4-08). 102-128.