sign restrictions, we disentangle this non-fundamental ?- nancial shock from fundamental shocks to oil supply and demand to … prices in recent years. We de?ne a destabilizing ?nancial shock as a shift in oil prices that is not related to current and … determine their relative importance. We ?nd that shocks to oil demand and supply remain the main drivers of oil price swings …

destabilize oil prices in recent years. We define a destabilizing financial shock as a shift in oil prices that is not related to … identified with sign restrictions, we disentangle this non-fundamental financial shock from fundamental shocks to oil supply and … demand to determine their relative importance. We find that financial investors in the futures market can destabilize oil …

economy responds to higher oil prices by increasing aggregate wealth and demand. The results also emphasize the role of other …

particular, aggregate demand shocks appear to act as the main transmitters of spillover effects to stock markets during periods … characterised by economic-driven events, while supply-side and oil-specific demand shocks during periods of geopolitical unrest …

impulse response analysis further shows that, in most of the cases, the oil price shock has only an impact on the short time …