I discuss the short-run dynamics of commodity prices, production, and inventories, as well as the sources and effects of market volatility. I explain how prices, rates of production, and inventory levels are interrelated, and are determined via equilibrium in two interconnected markets: a cash market for spot purchases and sales of the commodity, and a market for storage. I show how equilibrium...

Research on the dynamic behavior of crude oil prices has become a hot issue in recent years. Currently the study of petroleum prices is largely based on the mainstream literature of financial markets whose fundamental assumption is that returns of stock prices follow a normal distribution and price behaviors obey a so-called random walk hypothesis. This notion was first introduced by Bachelier ...

Commodity prices tend to be volatile, and volatility itself varies over time. Changes in volatility can affect market variables by directly affecting the marginal value of storage, and by affecting a component of the total marginal cost of production: the opportunity cost of exercising the option to produce the commodity now rather than waiting for more price information. I examine the role of ...

Acetone-methanol extracts of honeybees (Apis mellifera) were chromatographed from petroleum ether on columns of aluminum oxide and magnesium oxide:celite. Vitamin A(1) was identified by the Carr-Price (antimony chloride) reaction. These experiments provide the first demonstration of vitamin A in the tissues of an insect. Like retinene, vitamin A is confined to the heads and is not found in eith...

Commodity prices tend to be volatile, and volatility itself varies over time. Changes in volatility can affect market variables by directly affecting the marginal value of storage, and by affecting a component of the total marginal cost of production: the opportunity cost of exercising the option to produce the commodity now rather than waiting for more price information. I examine the role of ...

The demand for energy resources by various systems such as production and transportation, as well as for physical comfort continues to grow apace, intensifying global dependence on fossil fuels and their derivatives. For this reason, numerous private and public programs in several countries have established feasible alternatives for the substitution of petroleum derivatives (Sahin, 2011; Saint ́...

In the study, influence of EXC and OIL on INF was investigated by using annual data Turkey between 1995 2020. VAR model preferred in examination. accordance with findings obtained at end examination, there is a strong positive affair amongst variables long-period variants. The rate adjustment towards long-term equilibrium as fast 56%. Exchange petroleum prices affect inflation rates long run. a...

in the past decades, environmental pollution caused by plastic packing materials, restrictions of petroleum resources and their high price attracted many researchers to produce biodegradable packaging materials. poor mechanic properties and high water vapor permeability are two main defects of biodegradable polymers. nanotechnology is a modification method in this case. in the current study, th...

In contrast with the classical models of frictionless financial markets, market models with proportional transaction costs, even satisfying usual no-arbitrage properties, may admit arbitrage opportunities of the second kind. This means that there are self-financing portfolios with initial endowments laying outside the solvency region but ending inside. Such a phenomenon was discovered by M. Rás...

Focus is here on coalitional games among economic agents plagued by aggregate pollutions of diverse sorts. Defecting players presumably pollute more than others. Then, granted convex preferences and technologies, the core is proven nonempty. In fact, under natural assumptions, a specific, computable core solution comes in terms of shadow prices on the said aggregates. Such prices may, in large ...