The impact of fundamental and financial traders on the term structure of oil

Prof Tom Heidorn & Christof Rühl

The paper analyses how the exposure of fundamental and financial traders affects the futures curve of WTI oil and the market integration between WTI and Brent as measured by their price spread. Among its several observations, the paper finds that, despite order accutane over the counter allegations to the contrary, there is no evidence of a systematic impact of non-fundamental traders on the level of the futures curve, for example during the 2006–2008 oil price surge.

Authors: Thomas Heidorn, Frieder Mokinski, Christof Rühl, Christian Schmaltz

Publisher: Energy Economics

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