{"title":"Oil Price News and COVID-19—Is There Any Connection?","authors":"P. Narayan","doi":"10.46557/001c.13176","DOIUrl":null,"url":null,"abstract":"We evaluate the relative importance of COVID-19 infections and oil price news in influencing oil prices. We show that when the number of new COVID-19 infections surpasses 84,479, COVID-19 exerts a bigger effect on oil prices. Oil price news when conditioned on COVID-19 cases have limited effects on price. When oil price volatility is used as a threshold, at higher levels of volatility, both COVID-19 cases and negative oil price news influence oil prices.","PeriodicalId":348903,"journal":{"name":"Energy RESEARCH LETTERS","volume":"14 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"310","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Energy RESEARCH LETTERS","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.46557/001c.13176","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 310
Abstract
We evaluate the relative importance of COVID-19 infections and oil price news in influencing oil prices. We show that when the number of new COVID-19 infections surpasses 84,479, COVID-19 exerts a bigger effect on oil prices. Oil price news when conditioned on COVID-19 cases have limited effects on price. When oil price volatility is used as a threshold, at higher levels of volatility, both COVID-19 cases and negative oil price news influence oil prices.
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