While some of the recent surge of oil prices can be attributed to robust global demand at a time of tight production … empirical oil market model with heterogeneous speculators. Whereas trend-extrapolating chartists may tend to destabilize the … market, fundamentalists exercise a stabilizing effect on the price dynamics. Using monthly data for WTI oil prices, our STR …

production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price … volatility. Also the impact of oil shocks on economic activity appears to be significantly stronger in uncertain times. -- oil …This paper evaluates whether macroeconomic uncertainty changes the impact of oil shocks on the oil price. Using a …