Oil prices: backward to the future?
暂无分享,去创建一个
A useful first guess about the future spot price of a commodity is usually found in its current futures price. But it doesn’t work that way when the commodity in question is oil. This Commentary explains why the characteristics of oil, particularly the value it can offer its owner by remaining in the ground, cloud the information that oil futures prices give about future oil prices.
[1] Philipp M. Hildebrand,et al. The oil price and monetary policy – a new paradigm , 2005 .