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In this paper we investigate the time-varying relationship between oil and natural gas in the UK. We develop a model where relative prices can move between pricing-regimes; markets switch between being decoupled and integrated. Our model endogenously accounts for periods where oil and natural...
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As for any other fuels used for transport or heating, the gas price for final users could be split into three major … components: the wholesale price for the resource (including far distance transport by ship or pipeline), taxes and finally a … assorted group of mainly smaller price drivers (such as local transport, storage, marketing costs or retail margins). This …
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information about supply cuts for identification and find that gas supply and demand shocks have large and persistent price … effects, while output effects are rather moderate. The 2022 natural gas price spike was driven by adverse flow supply shocks … embargo on natural gas imports from Russia indicate similar positive price and negative output effects compared to what we …
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shocks have large and persistent price effects, while output effects tend to be moderate. The 2022 natural gas price spike … winter. Counterfactual simulations of an embargo on natural gas imports from Russia indicate similar positive price and …
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