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Commodity Market Response to Geopolitical Events: Evidence from the Ukrainian-Russian Conflict

Author

Listed:
  • Mohamad Hassan Shahrour

    (GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur)

  • Aymen Smondel

    (GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur)

  • Philippe Luu

    (GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur)

Abstract

This study examines the impact of the recent geopolitical turbulence, mainly wars, on the global financial markets, specifically commodities. We employ the event study methodology in the context of the Ukrainian-Russian war. The situation has the potential to cause significant economic impacts given Russia's position as a major oil producer and a natural gas supplier to Europe, leading to supply chain disruptions and an increase in the cost of living. The results suggest that such a situation has resulted in all-time highs for various assets. Our findings are useful for investors to implement more effective hedging strategies to manage their portfolios against market risk.

Suggested Citation

  • Mohamad Hassan Shahrour & Aymen Smondel & Philippe Luu, 2023. "Commodity Market Response to Geopolitical Events: Evidence from the Ukrainian-Russian Conflict," Post-Print hal-04222414, HAL.
    • Handle: RePEc:hal:journl:hal-04222414
    as

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