L. Razumnova, Moscow State Linguistic University, 38, Ostozhenka Str., Moscow, 119034, Russian Federation (email@example.com)
N. Svetlov, Moscow State Linguistic University, 38, Ostozhenka Str., Moscow, 119034, Russian Federation (firstname.lastname@example.org)
The aim of the article is to conduct a brief analysis of the main supposals (both of scientific and publicistic character), which as a whole give an insight into the key factors of oil price changes in the last ten years, and to suggest a peculiar model to explain such changes. The developed model proves empirically: 1) close interrelation between the world oil prices dynamics and the extent of the U.S. portfolio outstanding; 2) the existence of a cyclic financial means spill-over from the American stock market to the oil futures segment, and backwards; 3) sophistication of the oil market structure, its transformation to the commodity derivatives market.
world oil market, oil prices, “The Third Oil Shock”, speculative capital, price fluctuations scope, oil futures market, U.S. portfolio outstanding, econometric model
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