dc.contributor.author |
Zahr, Rani Andre. |
dc.date |
2013 |
dc.date.accessioned |
2015-02-03T10:43:51Z |
dc.date.available |
2015-02-03T10:43:51Z |
dc.date.issued |
2013 |
dc.date.submitted |
2013 |
dc.identifier.other |
b17887823 |
dc.identifier.uri |
http://hdl.handle.net/10938/9860 |
dc.description |
Project (M.B.A)--American University of Beirut, Suliman S. Olayan School of Business, 2013. |
dc.description |
First Reader : Dr. Ibrahim Jamali, Assistant Professor, Suliman S. Olayan School of Business--Second Reader : Dr. Ali Termos, Assistant Professor, Suliman S. Olayan School of Business. |
dc.description |
Includes bibliographical references (leaves 52-53) |
dc.description.abstract |
This paper explores the impact of investor flows, particularly the net long position, and the crude-oil spot market conditions. I argue that the persistent and growing number of non-commercial speculation, specifically the long futures positions in the crude futures market has had a statistically and economically significant impact on crude oil prices. Utilizing data presented by the Commodity and Futures Trading Commission and the US Energy Information Administration, we show evidence that speculative positions in the crude oil markets, specifically the Crude Net Long [(non-commercial long)-(non-commercial short)] positions in these markets have allowed prices to drift from fundamentals and manipulating prices. We present evidence that the Crude Net Long speculative positions affect crude oil prices more so than real economic activity such as supply, demand, and inventory accumulation. The findings suggest that speculation is the leading determinant of crude oil prices. |
dc.format.extent |
x, 53 leaves : ill. ; 30 cm. |
dc.language.iso |
eng |
dc.relation.ispartof |
Theses, Dissertations, and Projects |
dc.subject.classification |
Pj:001755 AUBNO |
dc.subject.lcsh |
Petroleum industry and trade -- Economic aspects. |
dc.subject.lcsh |
Petroleum products -- Prices. |
dc.subject.lcsh |
Speculation. |
dc.subject.lcsh |
Crude oil -- Economic aspects. |
dc.subject.lcsh |
Derivative securities. |
dc.subject.lcsh |
Futures market. |
dc.title |
Crude oil prices, inventory, and speculation - |
dc.type |
Project |
dc.contributor.department |
American University of Beirut. Suliman S. Olayan School of Business |