This paper assesses empirically whether speculation affects oil price dynamics. The growing presence of financial operators in the oil markets has led to the di

How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregress

It’s a fair bet that most of what you think you know about oil prices is wrong. Despite the massive price fluctuations of the past decade, the received wisdom

While some of the recent surge of oil prices can be attributed to robust global demand at a time of tight production capacities, commentators occasionally also

Crude oil prices have been on a run-up spree in recent years. Their dynamics were characterized by high volatility, high intensity jumps, and strong upward drif