Research on the Correlation Between WTI Crude Oil Futures Price and European Carbon Futures Price
نویسندگان
چکیده
In recent years, the rapid increase in CO 2 concentration has accelerated global warming. As a result, sea levels rise, glaciers melt, extreme weather occurs, and species become extinct. world’s largest emission rights trading market, EU Emissions Trading System (EU-ETS) reached 1.855 billion tons of quotas by 2019, influencing development carbon market. Crude oil, as one major fossil energy sources world, its price fluctuation is bound to affect rights. Therefore, this paper aims reveal correlation between crude oil futures prices studying fluctuation. paper, linkage West Texas Intermediate (WTI) European was investigated. addition, selects continuous data WTI spot with from January 8, 2018 November 27, 2020, builds smooth transformation regression (STR) model. The relationship studied both forward reversal through empirical analysis. results show that have mutual effect on each other, linear nonlinear correlations two exist. Based research, some suggestions are provided.
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ژورنال
عنوان ژورنال: Frontiers in Energy Research
سال: 2021
ISSN: ['2296-598X']
DOI: https://doi.org/10.3389/fenrg.2021.735665