External Effects of the War in Ukraine: The Impact on the Price of Oil in the Short-term
Antonio Jose Garzon Gordon and
Luis Angel Hierro Recio
Additional contact information
Antonio Jose Garzon Gordon: University of Seville, Spain.
Luis Angel Hierro Recio: University of Seville, Spain.
International Journal of Energy Economics and Policy, 2019, vol. 9, issue 2, 267-276
This paper analyses the short-term impact of the most relevant events of the war in the Ukraine on the price of oil. In order to determine the events to be studied, we propose a methodology based on a study of the news published in two reference newspapers in the markets: the Wall Street Journal and the Financial Times. From this selection, we use an event study model to detect the significance of the events. The main results obtained are: events that affected daily oil prices were scarce and occurred during very specific phases of the conflict; WTI price was more affected than Brent, even though the war took place in Europe; there is no noticeable lagged effect in the events, suggesting that the market assimilated the impact of relevant events very quickly.
Keywords: oil price; war; Ukraine; event study (search for similar items in EconPapers)
JEL-codes: F51 G14 Q40 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2019-02-31
Access Statistics for this article
International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk
More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().