Linkages among the US energy futures markets

Kentaka Aruga, Shunsuke Managi

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

This study investigates the price linkage among the US major energy sources, considering structural breaks in time series, to provide information for diversifying the US energy sources. We find that only a weak linkage sustains among crude oil, gasoline, heating oil, coal, natural gas, uranium and ethanol futures prices. This implies that the US major energy source markets are not integrated as one primary energy market. Our tests also reveal that uranium and ethanol futures prices have very weak linkages with other major energy source prices. This indicates that the US energy market is still at a stage where none of the probable alternative energy source markets are playing the role as substitute or complement markets for the fossil fuel energy markets.

Original languageEnglish
Pages (from-to)13-26
Number of pages14
JournalInternational Journal of Global Energy Issues
Volume36
Issue number1
DOIs
Publication statusPublished - Aug 29 2013
Externally publishedYes

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Uranium
Ethanol
Fossil fuels
Gasoline
Time series
Natural gas
Crude oil
Coal
Heating
Financial markets
Oils

All Science Journal Classification (ASJC) codes

  • Renewable Energy, Sustainability and the Environment
  • Nuclear Energy and Engineering
  • Energy Engineering and Power Technology

Cite this

Linkages among the US energy futures markets. / Aruga, Kentaka; Managi, Shunsuke.

In: International Journal of Global Energy Issues, Vol. 36, No. 1, 29.08.2013, p. 13-26.

Research output: Contribution to journalArticle

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