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COVID-19 Pandemic Haunting the Energy Market: From the First to the Second Wave

In: COVID-19 Pandemic and Energy Markets Commodity Markets, Cryptocurrencies and Electricity Consumption under the COVID-19

Author

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  • Donia Aloui
  • Rafla Hchaichi

Abstract

By using the structural VAR model with time-varying coefficients, this chapter aims to assess the impact of COVID-19 shocks on crude oil and natural gas S&P GSCI during the first wave and to compare it to that during the second wave. The findings confirm that S&P GS indices’ responses to COVID-19 shock are varying over time. This variation in responses can be explained by the unstable behavior of investors in an extremely uncertain environment. We find that the energy market remains vulnerable to the surge in coronavirus deaths, during the second wave, even though the damage on oil prices is less than that of the first wave. Our results show that the negative effect on the natural gas index worsens over time and becomes substantial with the arrival of the second wave.

Suggested Citation

  • Donia Aloui & Rafla Hchaichi, 2021. "COVID-19 Pandemic Haunting the Energy Market: From the First to the Second Wave," World Scientific Book Chapters, in: Khaled Guesmi (ed.), COVID-19 Pandemic and Energy Markets Commodity Markets, Cryptocurrencies and Electricity Consumption under the COVID-19, chapter 6, pages 87-99, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811239618_0006
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    More about this item

    Keywords

    COVID-19; Vaccines; ANCOVA; Carbon Emissions; Natural Gas; Crude Oil; Market Co-Movement; Cryptocurrencies; CO2 Emissions; Financial Volatility; VIX; Bitcoin; Gold Oil Price War; Health Crisis; S&P GS Commodity Index; Consumption of Electricity; The Behavior of Electricity Consumption; Social Interactivity; Flow State; Energy Consumption Culture; Life Style; Teleworking; De-globalization; Eating Habits;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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