18
Views
0
CrossRef citations to date
0
Altmetric
Research Article

Unveiling the dynamics: exploring the impact of oil-gas relationships on natural gas bubbles

&

References

  • Akcora, B., and O. K. Kocaaslan. 2022. Price bubbles in the European natural gas market between 2011 and 2020. Resources Policy 80:103186. doi:10.1016/j.resourpol.2022.103186.
  • Andrews, D. W. K., and W. Ploberger. 1994. Optimal tests when a nuisance parameter is present only under the alternative. Econometrica: Journal of the Econometric Society 62 (2):1383–19. doi:10.2307/2951753.
  • Asche, F., A. Oglend, and P. Osmundsen. 2017. Modeling UK natural gas prices when gas prices periodically decouple from the oil price. The Energy Journal 38 (2):131–48. doi:10.5547/01956574.38.2.fasc.
  • Balcilar, M., and Z. A. Ozdemir. 2013. The export-output growth nexus in Japan: A bootstrap rolling window approach. Empirical Economics 44 (2):639–60. doi:10.1007/s00181-012-0562-8.
  • Balcilar, M., Z. A. Ozdemir, and Y. Arslanturk. 2010. Economic growth and energy consumption causal nexus viewed through a bootstrap rolling window. Energy Economics 32 (6):1398–410. doi:10.1016/j.eneco.2010.05.015.
  • Caporin, M., and F. Fontini. 2017. The long-run oil–natural gas price relationship and the shale gas revolution. Energy Economics 64:511–19. doi:10.1016/j.eneco.2016.07.024.
  • Caporin, M., F. Fontini, and R. Panzica. 2023. The systemic risk of US oil and natural gas companies. Energy Economics 121:106650. doi:10.1016/j.eneco.2023.106650.
  • Dastan, S. A. 2023. The predicaments of the Turkish natural gas market between supply shortages and price hikes. Resources Policy 82:103566. doi:10.1016/j.resourpol.2023.103566.
  • Delalibera, B. R., R. Serrano-Quintero, and G. G. Zimmermann. 2023. Reforms in the natural gas sector and economic development. Economic Modelling 125:106358. doi:10.1016/j.econmod.2023.106358.
  • Enders, W., and J. Lee. 2011. A unit root test using a Fourier series to approximate smooth breaks. Oxford Bulletin of Economics and Statistics 74 (4):574–99. doi: 10.1016/j.1468-0084.2011.00662.x.
  • Halser, C., F. Paraschiv, and M. Russo. 2023. Oil–gas price relationships on three continents: Disruptions and equilibria. Journal of Commodity Markets 31:100347. doi:10.1016/j.jcomm.2023.100347.
  • Hasanli, M. 2024. Re-examining crude oil and natural gas price relationship: Evidence from time-varying regime-switching models. Energy Economics 133:107510. doi:10.1016/j.eneco.2024.107510.
  • Hossein, H., and M. R. Yeganegi. 2020. Selecting optimal lag order in Ljung–Box test. Physica A: Statistical Mechanics and Its Applications 541:123700. doi:10.1016/j.physa.2019.123700.
  • Hupka, Y., I. Popova, B. Simkins, and T. Lee. 2023. A review of the literature on LNG: Hubs development, market integration, and price discovery. Journal of Commodity Markets 31:100349. doi:10.1016/j.jcomm.2023.100349.
  • Huszár, Z. R., B. B. Kotró, and R. S. K. Tan. 2023. Dynamic volatility transfer in the European oil and gas industry. Energy Economics 127:107052. doi:10.1016/j.eneco.2023.107052.
  • Ji, Q., J. Li, and X. Sun. 2019. New challenge and research development in global energy financialization. Emerging Markets Finance and Trade 55 (12):2669–72. doi:10.1080/1540496X.2019.1636588.
  • Kartal, M. T., U. K. Pata, S. K. Depren, and Ö. Depren. 2023. Effects of possible changes in natural gas, nuclear, and coal energy consumption on CO2 emissions: Evidence from France under Russia’s gas supply cuts by dynamic ARDL simulations approach. Applied Energy 339:120983. doi:10.1016/j.apenergy.2023.120983.
  • Khan, K., C. W. Su, and A. Khurshid. 2022. Do booms and busts identify bubbles in energy prices? Resources Policy 76:102556. doi:10.1016/j.resourpol.2022.102556.
  • Li, Y., J. Chevallier, Y. Wei, and J. Li. 2020. Identifying price bubbles in the US, European and Asian natural gas market: Evidence from a GSADF test approach. Energy Economics 87:104740. doi:10.1016/j.eneco.2020.104740.
  • Loureiro, J. R., J. Inchauspe, and R. F. Aguilera. 2023. World regional natural gas prices: Convergence, divergence or what? New evidence. Journal of Commodity Markets 32:100368. doi:10.1016/j.jcomm.2023.100368.
  • Maneejuk, P., N. Kaewtathip, and W. Yamaka. 2024. The influence of the Ukraine-Russia conflict on renewable and fossil energy price cycles. Energy Economics 129:107218. doi:10.1016/j.eneco.2023.107218.
  • Mastroeni, L., A. Mazzoccoli, G. Quaresima, and P. Vellucci. 2021. Decoupling and recoupling in the crude oil price benchmarks: An investigation of similarity patterns. Energy Economics 94:105036. doi:10.1016/j.eneco.2020.105036.
  • Mchich, A., and H. Till. 2020. Is oil-indexation still relevant for pricing natural gas? Available at SSRN 3709139, 2020 •papers.ssrn.com. SSRN Electronic Journal. doi:10.2139/ssrn.3709139.
  • Miao, X., Q. Wang, and X. Dai. 2022. Is oil-gas price decoupling happening in China? A multi-scale quantile-on-quantile approach. International Review of Economics & Finance 77:450–70. doi:10.1016/j.iref.2021.10.016.
  • Nyangon, J., and R. Akintunde. 2024. Principal component analysis of day-ahead electricity price forecasting in CAISO and its implications for highly integrated renewable energy markets. WIREs Energy and Environment 13 (1):504. doi:10.1002/wene.504.
  • Nyangon, J., and J. Byrne. 2023. Estimating the impacts of natural gas power generation growth on solar electricity development: PJM’s evolving resource mix and ramping capability. WIREs Energy and Environment 12 (1):454. doi:10.1002/wene.454.
  • Ohta, H., and B. Barrett. 2023. Politics of climate change and energy policy in Japan: Is green transformation likely? Earth System Governance 17:100187. doi:10.1016/j.esg.2023.100187.
  • Phillips, P. C. B., S. Shi, and J. Yu. 2015. Testing for multiple bubbles: Historical episodes of exuberance and collapse in the S&P 500. International Economic Review 56:1043–1078. doi:10.1111/iere.12132. 4
  • Phillips, P. C., and J. Yu. 2011. Dating the timeline of financial bubbles during the subprime crisis. Quantitative Economics 2 (3):455–91. doi:10.3982/QE82.
  • Razek, N., V. Galvani, S. Rajan, and B. McQuinn. 2023. Can U.S. strategic petroleum reserves calm a tight market exacerbated by the Russia–Ukraine conflict? Resources Policy 86:104062. doi:10.1016/j.resourpol.2023.104062.
  • Rizvi, S. K. A., B. Naqvi, S. Boubaker, and N. Mirza. 2022. The power play of natural gas and crude oil in the move towards the financialization of the energy market. Energy Economics 112:1061311. doi:10.1016/j.eneco.2022.106131.
  • Sharma, S., and D. Escobari. 2018. Identifying price bubble periods in the energy sector. Energy Economic 69:418–29. doi:10.1016/j.eneco.2017.12.007.
  • Singh, A. K., and B. C. Pal. 2018. Rate of change of frequency estimation for power systems using interpolated DFT and Kalman Filter. IEEE Transactions on Power Systems 34 (4):2509–17. doi:10.1109/TPWRS.2018.2881151.
  • Sravya, S., and T. Ward. 2023. Stability and critical volume of a suspended pendant drop in air via experiments and eigenvalue analysis. Colloids and Surfaces A: Physicochemical and Engineering Aspects 666:131346. doi:10.1016/j.colsurfa.2023.131346.
  • Su, C. W., M. Qin, H. L. Chang, and A. M. Țăran. 2023. Which risks drive European natural gas bubbles? Novel evidence from geopolitics and climate. Resources Policy 81:103381. doi:10.1016/j.resourpol.2023.103381.
  • Szafranek, K., and M. Rubaszek. 2023. Have European natural gas prices decoupled from crude oil prices? Evidence from TVP-VAR analysis. Studies in Nonlinear Dynamics & Econometrics:1–24. doi:10.1515/snde-2022-0051.
  • Tiwari, A. K., Z. Mukherjee, R. Gupta, and M. Balcilar. 2019. A wavelet analysis of the relationship between oil and natural gas prices. Resources Policy 60:118–24. doi:10.1016/j.resourpol.2018.11.020.
  • Tiwari, A. K., G. D. Sharma, A. Rao, M. R. Hossain, and D. Dev. 2024. Unraveling the crystal ball: Machine learning models for crude oil and natural gas volatility forecasting. Energy Economics 134:107608. doi:10.1016/j.eneco.2024.107608.
  • Wang, H., and Z. Lei. 2023. Energy supply from oil and gas, mineral depletion, and total natural resource rents: Impact of oil equivalent energy use CO2 intensity. Resources Policy 86:104172. doi:10.1016/j.resourpol.2023.104172.
  • Wang, T. T., D. Y. Zhang, and C. D. Broadstock. 2019. Broadstock financialization, fundamentals, and the time-varying determinants of US natural gas prices. Energy Economics 80:707–19. doi:10.1016/j.eneco.2019.01.026.
  • Wang, Z., and M. K. Kim. 2022. Price bubbles in oil & gas markets and their transfer. Resources Policy 79:103059. doi:10.1016/j.resourpol.2022.103059.
  • Wang, Z., S. Li, Z. Jin, Z. Li, Q. Liu, and K. Zhang. 2023. Oil and gas pathway to net-zero: Review and outlook. Energy Strategy Reviews 45:101048. doi:10.1016/j.esr.2022.101048.
  • Wu, Y. K., K. Le, T. A. Nguyen, and O. D. Phan. 2020. Estimation of power system inertia using traditional swing equation, polynomial approximation and RV methods. 2020 International Symposium on Computer, Consumer and Control (IS3C) 24:347–50. doi:10.1109/IS3C50286.2020.00096.
  • Yang, D., B. Wang, G. Cai, Z. Chen, J. Ma, Z. Sun, and L. Wang. 2020. Data-driven estimation of inertia for multiarea interconnected power systems using dynamic mode decomposition. IEEE Transactions on Industrial Informatics 17 (4):2686–95. doi:10.1109/TII.2020.2998074.
  • Yang, W., L. Pan, and Q. Ding. 2023. Dynamic analysis of natural gas substitution for crude oil: Scenario simulation and quantitative evaluation. Energy 26:128764. Elsevier. doi:10.1016/j.energy.2023.128764.
  • Zhang, D., M. Shi, and X. Shi. 2017. Oil indexation, market fundamentals, and natural gas prices: An investigation of the Asian Premium in natural gas trade. Energy Economics 69:33–41. doi:10.1016/j.eneco.2017.11.001.
  • Zhang, D., T. Wang, X. Shi, and J. Liu. 2018. Is hub-based pricing a better choice than oil indexation for natural gas? Evidence from a multiple bubble test. Energy Economics 76:495–503. doi:10.1016/j.eneco.2018.11.001.
  • Zhang, D. Y., and Q. Ji. 2018. Further evidence on the debate of oil-gas price decoupling: A long memory approach. Energy Policy 113:68–75. doi:10.1016/j.enpol.2017.10.046.
  • Zheng, Y., J. Luo, J. Chen, Z. Chen, and P. Shang. 2023. Natural gas spot price prediction research under the background of Russia-Ukraine conflict - based on FS-GA-SVR hybrid model. Journal of Environmental Management 344:118446. doi:10.1016/j.jenvman.2023.118446.
  • Zivot, E., and D. W. K. Andrews. 2002. Further evidence on the great crash. The oil-price shock, and the unit-root hypothesis. Journal of Business & Economic Statistics, 2002•taylor & Francis 20 (1):25–44. doi:10.1198/073500102753410372.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.