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Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach

Author

Listed:
  • Cheima Gharib

    (LIEC - Laboratoire Interdisciplinaire des Environnements Continentaux - INEE-CNRS - Institut Ecologie et Environnement - CNRS Ecologie et Environnement - CNRS - Centre National de la Recherche Scientifique - INSU - CNRS - Institut national des sciences de l'Univers - OTELo - Observatoire Terre et Environnement de Lorraine - INSU - CNRS - Institut national des sciences de l'Univers - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

  • Salma Mefteh-Wali

    (ESSCA - ESSCA – École supérieure des sciences commerciales d'Angers = ESSCA Business School)

  • Vanessa Serret

    (CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine)

  • Sami Ben Jabeur

    (ESDES - ESDES, Lyon Business School - UCLy - UCLy - UCLy (Lyon Catholic University), UR CONFLUENCE : Sciences et Humanités (EA 1598) - UCLy - UCLy (Lyon Catholic University))

Abstract

This paper provides an analysis of crude oil, diesel, and gasoline prices for the period from November 1, 2019 to December 31, 2020. We apply Log Periodic Power-Law Singularity (LPPLS) and Discrete Scale LPPLS bubble indicators to explore the dynamic bubbles of oil prices and predict their crash times. The results indicate that West Texas Light crude oil and North Sea Brent crude oil experienced a statistically significant negative financial bubble during the COVID-19 outbreak. In addition, gasoline and diesel prices are mainly driven by fundamentals. Our findings are expected to be useful to oil market investors, policymakers, and energy experts.

Suggested Citation

  • Cheima Gharib & Salma Mefteh-Wali & Vanessa Serret & Sami Ben Jabeur, 2021. "Impact of COVID-19 pandemic on crude oil prices: Evidence from Econophysics approach," Post-Print hal-03375164, HAL.
    • Handle: RePEc:hal:journl:hal-03375164
    DOI: 10.1016/j.resourpol.2021.102392
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