Co-movements of Alaska North Slope and UK Brent crude oil prices

Bradley T. Ewing, Cynthia Lay Harter

Research output: Contribution to journalArticle

31 Scopus citations

Abstract

In order to study the inter-relationships of international crude oil markets, empirical analyses are used to investigate univariate and multivariate relationships between Alaska North Slope and UK Brent oil prices. Using monthly data from the period 1974-1996, the results show that both price series follow a random walk and that these oil markets share a long-run common trend. The empirical results suggest that the two markets are 'unified'. That is, they are competitive, and there is price convergence in the markets.

Original languageEnglish
Pages (from-to)553-558
Number of pages6
JournalApplied Economics Letters
Volume7
Issue number8
DOIs
StatePublished - Jan 1 2000

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