An Analysis of Dynamic Correlations among Oil, Natural Gas and Ethanol Markets: New Evidence from the Pre- and Post-COVID-19 Crisis

Quintino, Derick David; Ogino, Cristiane; Haq, Inzamam Ul; Ferreira, Paulo; Oliveira, Márcia

doi:10.3390/en16052349

Cited by 6 publications

(3 citation statements)

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“…In this context, it is worth mentioning that Europe imports about 90% of its total gas consumption and about 45% of this comes from Russia (Pastore et al, 2022). To highlight te idea, in order to prevent price reductions due to low demand, members and partners of the Organization of the Petroleum Exporting Countries proposed a reduction in oil production (Quintino et al, 2023), supporting the approach encouraged by Saudi Arabia, but as it was previously specified, Russia refused. These issues have led to geopolitical instability and a trade war.…”

Section: Introductionmentioning

confidence: 98%

“…With prices falling, Saudi Arabia has proposed that oilproducing countries cut production to help control prices. However, Russia disagreed, causing friction between the two countries and further impacting the sector's economy (Quintino et al, 2023). In this context, it is worth mentioning that Europe imports about 90% of its total gas consumption and about 45% of this comes from Russia (Pastore et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

“…Saudi Arabia, against its original proposal, increased production to gain a competitive position. Such events caused a sharp drop in energy prices, with WTI crude oil futures in Texas, USA, for example, even reaching negative values in April 2020 (Quintino et al, 2023). With the resumption of activities in major industries at the end of 2021, energy supply could not keep up with demand, leading to higher prices and instability in the market as a whole.…”

Section: Introductionmentioning

confidence: 99%

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Managerial Approaches Associated With the Natural Gas Crisis in the Agricultural Sector From Romania and Türkiye

DAN,

POPA

2024

Proceedings of the International Management Conference

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After the economic impact caused by the Covid-19 pandemic, with relevant effects on both supply and demand of natural gas and their derived products, there has been a high interest at both managerial and academic levels, directed towards decoding the relationships between key stakeholders involved. The agricultural economy has chain implications at the level of every industry, and the price of natural gas radically influences various fields. In the context of the Covid-19 pandemic and the war between Russia and Ukraine, Romania and Türkiye have faced unprecedented situations in the energy and agricultural sectors, especially due to high prices and low sales value of cereals due to imports from Ukraine. The present study brings to the light of the research information from secondary sources, both quantitative and qualitative, simultaneously with an interview-type approach arried out on five managers in the area of distributors and producers of chemical fertilizers in Romania and Turkey and moreover completed with an analysis of the effectiveness of managerial implementation nationlwide. The innovative element comes primarily from the informational value of the data provided by them, intrinsic and far-reaching aspects at the managerial level in companies with hundreds of employees. The paper outlines the element of necessity attributed to the use of natural gas in the world's economic fields, reflecting the national-level managerial directions approached by the governing bodies of the two countries in order to manage the situation. An analysis of the financial implications of recent years in the field and the management policies used to adapt to the atypical market context is outlined. To contribute to a deeper understanding of price relationships, this paper analyzes the dynamics between the prices of energy, natural gas and reference chemical fertilizers on the market in Romania and Turkey, especially over the years 2019 – 2023. The research emphasizes the managerial approaches that have impacted the mentioned sector and highlights the reactions of the governing bodies at the level of the two states, reflected in strategic directions oriented towards the population to support the citizens. In order to analyze the effectiveness of the implementation, a Google Forms type form addressed to the farmers of the two states was created, with coded questions, precisely defined based on the national managerial policies that will have been presented previously.

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Section: Introductionmentioning

confidence: 98%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Managerial Approaches Associated With the Natural Gas Crisis in the Agricultural Sector From Romania and Türkiye

DAN,

POPA

2024

Proceedings of the International Management Conference

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Gold and crude oil: A time-varying causality across various market conditions

Raggad,

Bouri

2023

Resources Policy

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Price risk transfer from futures to spot prices in energy commodities: measuring the effects of the Covid-19 pandemic and of the Russo–Ukrainian conflict

Panagiotou,

Karamanis

2024

JFEP

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Purpose The purpose of this paper is to measure price risk transfer from futures prices to spot prices in the markets of energy commodities. Design/methodology/approach To this end, it estimates CoVaR functions for five futures-spot prices pairs of energy commodities. To account for the effects of the Covid-19 pandemic as well as for the effects of the Russo−Ukrainian conflict, the total sample has been split into three sub-samples. The first one contains observations from 01/01/2010–3/11/2020, which marks the official declaration of the coronavirus as a global pandemic. The second sub-sample uses observations from 3/12/2020–2/24/2022, which marks the beginning of the Russo−Ukrainian conflict, and the third one includes observations from 2/25/2022 up to 8/31/2023. Findings Results indicate that the effect of the coronavirus pandemic was to increase the risk of price transfer from futures markets to spot markets, in all of the energy commodities examined. On the other hand, the effect of the escalation of the Russo−Ukrainian conflict was to significantly reduce the price risk transfer from the futures markets to the spot markets, in all five energy commodities. Originality/value To the best of the authors’ knowledge, this is the first study to use CoVaR functions to estimate risk transfer among the energy commodities. In addition, it separates and estimates the effects of the Covid-19 pandemic as well as the effects of the Russo−Ukrainian conflict.

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An Analysis of Dynamic Correlations among Oil, Natural Gas and Ethanol Markets: New Evidence from the Pre- and Post-COVID-19 Crisis

Cited by 6 publications

References 43 publications

Managerial Approaches Associated With the Natural Gas Crisis in the Agricultural Sector From Romania and Türkiye

Managerial Approaches Associated With the Natural Gas Crisis in the Agricultural Sector From Romania and Türkiye

Gold and crude oil: A time-varying causality across various market conditions

Price risk transfer from futures to spot prices in energy commodities: measuring the effects of the Covid-19 pandemic and of the Russo–Ukrainian conflict

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