Brent *** Texas Intermediate in the US petro derivatives price formation

作     者：Alejandro Almeida Antonio A.Golpe Juan Manuel Martín-Alvarez Jose Carlos Vides Alejandro Almeida;Antonio A.Golpe;Juan Manuel Martín-Alvarez;Jose Carlos Vides

作者机构：Universidad Internacional de La RiojaDepartment of Quantitative Methods for Economics and BusinessLa RiojaSpain University of HuelvaDepartment of Economics and Centro de Estudios Avanzados en FisicaMatematicas y Computacion and ICEIHuelvaSpain Complutense University of MadridDepartment of Applied and Structural Economics and History and ICEIMadridSpain 

出 版 物：《Petroleum Science》 (石油科学（英文版）)

年 卷 期：2024年第21卷第1期

页      面：729-739页

核心收录：

学科分类：0820[工学-石油与天然气工程] 082001[工学-油气井工程] 08[工学] 

主　　题：Crude oil prices Spatial panel model Refined products Price formation 

摘      要：In this paper,we apply the spatial panel model to explore the relationship between the dynamic of two types of crude oil prices(WTI and Brent crude oil)and their refined products over *** the turbulent months of 2011,when Cushing Oklahoma had reached capacity and the crude oil export ban removal in 2015 as breakpoints,we apply this method both in the full sample and the three resultant ***,results suggest our results show that both WTI and Brent display very similar behaviour with the refined ***,when attending to each regime,results derived from the first and third regimes are quite similar to the full sample ***,during the second regime,Brent crude oil became the benchmark in the petrol market,and it influenced the distillate ***,our model can let us determine the price-setters and price-followers in the price formation mechanism through refined *** results possess important considerations to policymakers and the market participants and the price formation.