Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach

This paper provides an analysis of crude oil, diesel, and gasoline prices for the period from November 1, 2019 to December 31, 2020. We apply Log Periodic Power-Law Singularity (LPPLS) and Discrete Scale LPPLS bubble indicators to explore the dynamic bubbles of oil prices and predict their crash tim...

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Detalles Bibliográficos
Autores principales: Gharib, Cheima, Mefteh-Wali, Salma, Serret, Vanessa, Ben Jabeur, Sami
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Ltd. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8507600/
https://www.ncbi.nlm.nih.gov/pubmed/34658485
http://dx.doi.org/10.1016/j.resourpol.2021.102392
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author Gharib, Cheima
Mefteh-Wali, Salma
Serret, Vanessa
Ben Jabeur, Sami
author_facet Gharib, Cheima
Mefteh-Wali, Salma
Serret, Vanessa
Ben Jabeur, Sami
author_sort Gharib, Cheima
collection PubMed
description This paper provides an analysis of crude oil, diesel, and gasoline prices for the period from November 1, 2019 to December 31, 2020. We apply Log Periodic Power-Law Singularity (LPPLS) and Discrete Scale LPPLS bubble indicators to explore the dynamic bubbles of oil prices and predict their crash times. The results indicate that West Texas Light crude oil and North Sea Brent crude oil experienced a statistically significant negative financial bubble during the COVID-19 outbreak. In addition, gasoline and diesel prices are mainly driven by fundamentals. Our findings are expected to be useful to oil market investors, policymakers, and energy experts.
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spelling pubmed-85076002021-10-13 Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach Gharib, Cheima Mefteh-Wali, Salma Serret, Vanessa Ben Jabeur, Sami Resour Policy Article This paper provides an analysis of crude oil, diesel, and gasoline prices for the period from November 1, 2019 to December 31, 2020. We apply Log Periodic Power-Law Singularity (LPPLS) and Discrete Scale LPPLS bubble indicators to explore the dynamic bubbles of oil prices and predict their crash times. The results indicate that West Texas Light crude oil and North Sea Brent crude oil experienced a statistically significant negative financial bubble during the COVID-19 outbreak. In addition, gasoline and diesel prices are mainly driven by fundamentals. Our findings are expected to be useful to oil market investors, policymakers, and energy experts. Elsevier Ltd. 2021-12 2021-10-04 /pmc/articles/PMC8507600/ /pubmed/34658485 http://dx.doi.org/10.1016/j.resourpol.2021.102392 Text en © 2021 Elsevier Ltd. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Gharib, Cheima
Mefteh-Wali, Salma
Serret, Vanessa
Ben Jabeur, Sami
Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach
title Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach
title_full Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach
title_fullStr Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach
title_full_unstemmed Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach
title_short Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach
title_sort impact of covid-19 pandemic on crude oil prices: evidence from econophysics approach
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8507600/
https://www.ncbi.nlm.nih.gov/pubmed/34658485
http://dx.doi.org/10.1016/j.resourpol.2021.102392
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