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Futures Trading and the European Oil Market

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  • Peter J.N.W Bird

Abstract

The subject of this paper is the behavior of daily gas oil futures prices on the London-based International Petroleum Exchange (IPE). It reports results consistent with the hypothesis that prices on the IPE follow a random walk.

Suggested Citation

  • Peter J.N.W Bird, 1987. "Futures Trading and the European Oil Market," The Energy Journal, , vol. 8(3), pages 149-156, July.
    • Handle: RePEc:sae:enejou:v:8:y:1987:i:3:p:149-156
    DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No3-8
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    References listed on IDEAS

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    1. Smidt, Seymour, 1968. "A New Look at the Random Walk Hypothesis," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 3(3), pages 235-261, September.
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