Valenti, Daniele; Bastianin, Andrea; Manera, Matteo - 2022
price fluctuations due to unexpected of variations of above-ground stocks. Including the futures-spot price spread is key … structural parameters of interest, such as supply and demand elasticises. Our model incorporates both the futures-spot price … spread to capture shocks to the real price of crude oil driven by changes in expectations and US inventories to describe …