1. We study the behavior of the volatility in crude oil spot prices series comparing low and high prices regime. 2. We filtered the future term-structure to estimate spot price series. 3. Estimated series has the same stylized properties observed on equities and futures, traded on exchanges. 4. The volatility, estimated with GARCH models, do not differ between low and prices regimes. 5. The persistence during the high prices regime decreased.
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