Oil Price News and COVID-19—Is There Any Connection?

By Paresh Kumar Narayan. Energy RESEARCH LETTERS, 2020

354 citations recorded by the source corpus.

We evaluate the relative importance of COVID-19 infections and oil price news in influencing oil prices. We show that when the number of new COVID-19 infections surpasses 84,479, COVID-19 exerts a bigger effect on oil prices. Oil price news when conditioned on COVID-19 cases have limited effects on price. When oil price volatility is used as a threshold, at higher levels of volatility, both COVID-19 cases and negative oil price news influence oil prices.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/f640a16d96852c6d5ab0ebb239b7fd4d9ca63765

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Citations in the corpus

Did Bubble Activity Intensify During COVID-19? (2020, methodology): “…Fu & Shen, 2020; Gil-Alana & Monge, 2020; Gu et al., 2020; Haroon & Rizvi, 2020a, 2020b; Huang & Zheng, 2020; Iyke, 2020a, 2020b; Liu et al., 2020; Narayan, 2020; Qin et al., 2020; A. Salisu & Adediran, 2020; A.A. Salisu et al., 2020; Afees A. Salisu & Vo, 2020; Xiong et al., 2020; Zaremba et…”
Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST? (2020, background): “A second strand of research to which our study relates examines the effect of pandemics on financial markets (Al-Awadhi et al. 2020; Ali, Alam, and Rizvi 2020; Apergis and Apergis 2020; Barro, Ursúa, and Weng 2020; Donadelli, Kizys, and Riedel 2017; Gil-Alana and Monge 2020; Gormsen and Koijen 2020;”
Country Responses and the Reaction of the Stock Market to COVID-19—a Preliminary Exposition (2020, background): “Some recent papers are Narayan (2020), Gil-Alana and Monge (2020), Liu, Wang, and Lee (2020), Zhang, Hu, and Ji (2020), Haroon and Rizvi (2020), Ali, Alam and Rizvi (2020), Al-Awadhi et al. (2020), Fu and Shen (2020), Qin, Zhang, and Su (2020), and Apergis and Apergis (2020).”
Constructing a Global Fear Index for the COVID-19 Pandemic (2020, background): “A number studies have also investigated the connection between the COVID-19 pandemic and the energy sector (see Apergis and Apergis 2020; Fu and Shen 2020; Gil-Alana and Monge 2020; Liu, Wang, and Lee 2020; Narayan 2020;; Qin, Zhang, and Su 2020).”
The Impact of the COVID-19 Pandemic on Firm Performance (2020, background): “Extant studies investigated the connection between COVID-19 and oil price (Gil-Alana and Monge 2020; Narayan 2020), COVID-19 and exchange rates (Iyke 2020b), and the impact of COVID-19 on US partisan conflict index (Apergis and Apergis 2020).”
COVID-19 lockdowns, stimulus packages, travel bans, and stock returns (2020, neutral): “This is an important issue to understand because as much as COVID-19 has been an unprecedented event, its scale has been matched by government policies to cushion its negative repercussions (Phan and Narayan, 2020).”
A Note on the Asian Market Volatility During the COVID-19 Pandemic (2020, background): “According to Sha & Sharma (2020) and Phan & Narayan (2020), the COVID-19 pandemic represents the largest and most disturbing shock to the global economic system and it is therefore important to understand whether the country level volatility can be determined by the regional level stock market…”
Accounting Index of COVID-19 Impact on Chinese Industries: A Case Study Using Big Data Portrait Analysis (2020, background): “Narayan (2020) analyzed the relationship between COVID-19 and oil price news.”
Uncertainty Due to Infectious Diseases and Energy Market Volatility (2020, background): “The COVID-19 pandemic has introduced a different dimension to the functioning of energy markets (see Devpura & Narayan, 2020; Huang & Zheng, 2020; Narayan, 2020).”
COVID-19: Structural Changes in the Relationship Between Investor Sentiment and Crude Oil Futures Price (2020, background): “Narayan (2020) shows the relative importance of negative and positive oil price news in influencing oil prices.”
Pandemic, Mobile Payment, and Household Consumption: Micro-Evidence from China (2020, background): “The coronavirus (COVID-19) outbreak in December 2019 attracted considerable media attention (Haroon and Rizvi 2020) and generated global panic (Ali, Alam, and Rizvi 2020), thereby causing much of the economy to halt (Narayan 2020).”
Flatten the Curve and Stock Market Liquidity – An Inquiry into Emerging Economies (2020, background): “…on financial markets focus on returns, volatility and systematic risk (Al-Awadhi et al. 2020; Albulescu 2020; Apergis and Apergis 2020; Fu and Shen 2020; Gil-Alana and Monge 2020; Haroon and Rizvi 2020; Liu, Wang, and Lee 2020; Narayan 2020; Qin, Zhang, and Su 2020; Zhang, Hu, and Ji 2020).”
COVID-19: The Reaction of US Oil and Gas Producers to the Pandemic (2020, background): “The COVID-19 pandemic—which is caused by severe acute respiratory syndrome coronavirus 2 (SARS‐CoV‐2)—has halted economic activities globally (Iyke & Ho, 2020; Narayan, 2020; Phan & Narayan, 2020).”
COVID-19 and the Oil Price – Stock Market Nexus: Evidence From Net Oil-Importing Countries (2020, background): “…contribution to this literature is that we add to Other recent studies related to COVID-19 and its impact on various economic factors include Chen et al. (2020), He et al. (2020), Iyke (2020b), D. Liu et al. (2020), Phan & Narayan (2020), Salisu & Akanni (2020), and Yue et al. (2020), among others.”
COVID-19 and Corporate Performance in the Energy Industry (2020, background): “Extant studies have investigated the connection between COVID-19 and oil price (Gil-Alana & Monge, 2020; Narayan, 2020) and the impact of COVID-19 on US Partisan conflict index (Apergis & Apergis, 2020).”
COVID–19’s Impact on Stock Prices Across Different Sectors—An Event Study Based on the Chinese Stock Market (2020, result): “Our study therefore contributes to a small but growing literature on COVID-19 and its repercussions on different aspects of the economic and financial system (see, inter alia, Ali, Alam, and Rizvi 2020; Apergis and Apergis 2020; Fu and Shen 2020; Gil-Alana and Monge 2020; Narayan 2020).”