Time-varying effects of crude oil price fluctuations on tuna fish prices

Pierre Failler; Yuhang Zheng; Yue Liu; Negar Akbari; Helga Josupeit; Ben Drakeford; Andrew Peter Forse

doi:10.62617/se.v2i3.103

Time-varying effects of crude oil price fluctuations on tuna fish prices

Pierre Failler, Yuhang Zheng, Yue Liu, Negar Akbari, Helga Josupeit, Ben Drakeford, Andrew Peter Forse

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Abstract

This research presents an investigation of the time varying effects of crude oil on the price of three Tuna species, namely skipjack, albacore and yellow fin. The investigation analyses the impact coefficient of oil price fluctuation on tuna species over time with specific phases related to time points when crude oil prices fall, including December 2008 (due to the impact of the Financial Crisis), February 2016 (due to the impact of the US shale oil and gas revolution) and April 2020 (due to the impact of the global COVID-19). The analysis shows that the price of yellow fin and skipjack show sensitivity to these phased oil price shocks however stay consistent after recovery. This research finds that the relationship between oil price and Tuna price depend on specific phases of the oil price fluctuations and that global crude oil price shocks could have immediate and short-term impacts on fish markets especially during a period of financial crisis.

Original language	English
Article number	103
Number of pages	9
Journal	Sustainable Economies
Volume	2
Issue number	3
DOIs	https://doi.org/10.62617/se.v2i3.103
Publication status	Published - 18 Apr 2024

Keywords

tuna
oil price
commodity
Financial crisis
sustainability

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10.62617/se.v2i3.103

Time-varying effects of crude oil price fluctuations on tuna fish pricesFinal published version, 311 KBLicence: CC BY

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title = "Time-varying effects of crude oil price fluctuations on tuna fish prices",

abstract = "This research presents an investigation of the time varying effects of crude oil on the price of three Tuna species, namely skipjack, albacore and yellow fin. The investigation analyses the impact coefficient of oil price fluctuation on tuna species over time with specific phases related to time points when crude oil prices fall, including December 2008 (due to the impact of the Financial Crisis), February 2016 (due to the impact of the US shale oil and gas revolution) and April 2020 (due to the impact of the global COVID-19). The analysis shows that the price of yellow fin and skipjack show sensitivity to these phased oil price shocks however stay consistent after recovery. This research finds that the relationship between oil price and Tuna price depend on specific phases of the oil price fluctuations and that global crude oil price shocks could have immediate and short-term impacts on fish markets especially during a period of financial crisis.",

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AU - Failler, Pierre

AU - Zheng, Yuhang

AU - Liu, Yue

AU - Akbari, Negar

AU - Josupeit, Helga

AU - Drakeford, Ben

AU - Forse, Andrew Peter

PY - 2024/4/18

Y1 - 2024/4/18

N2 - This research presents an investigation of the time varying effects of crude oil on the price of three Tuna species, namely skipjack, albacore and yellow fin. The investigation analyses the impact coefficient of oil price fluctuation on tuna species over time with specific phases related to time points when crude oil prices fall, including December 2008 (due to the impact of the Financial Crisis), February 2016 (due to the impact of the US shale oil and gas revolution) and April 2020 (due to the impact of the global COVID-19). The analysis shows that the price of yellow fin and skipjack show sensitivity to these phased oil price shocks however stay consistent after recovery. This research finds that the relationship between oil price and Tuna price depend on specific phases of the oil price fluctuations and that global crude oil price shocks could have immediate and short-term impacts on fish markets especially during a period of financial crisis.

AB - This research presents an investigation of the time varying effects of crude oil on the price of three Tuna species, namely skipjack, albacore and yellow fin. The investigation analyses the impact coefficient of oil price fluctuation on tuna species over time with specific phases related to time points when crude oil prices fall, including December 2008 (due to the impact of the Financial Crisis), February 2016 (due to the impact of the US shale oil and gas revolution) and April 2020 (due to the impact of the global COVID-19). The analysis shows that the price of yellow fin and skipjack show sensitivity to these phased oil price shocks however stay consistent after recovery. This research finds that the relationship between oil price and Tuna price depend on specific phases of the oil price fluctuations and that global crude oil price shocks could have immediate and short-term impacts on fish markets especially during a period of financial crisis.

KW - tuna

KW - oil price

KW - commodity

KW - Financial crisis

KW - sustainability

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Time-varying effects of crude oil price fluctuations on tuna fish prices

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