Table 2 Linear effects
From: How do supply or demand shocks affect the US oil market?
Refined product | \(\varvec{WTI}{\mathbf{ \Rightarrow }}\varvec{Deriv}\) | \(\varvec{Deriv} \mathbf{\Rightarrow} \varvec{WTI}\) | ||||||
|---|---|---|---|---|---|---|---|---|
Supply-driven | Demand-driven | |||||||
Test statistic | Bootstrap critical values | Test statistic | Bootstrap critical values | |||||
1% | 5% | 10% | 1% | 5% | 10% | |||
Conv. Gasol. NY | 2.241 | 9.760 | 6.637 | 4.810 | 24.078*** | 9.123 | 6.075 | 4.522 |
RBOB | 20.374*** | 9.576 | 6.443 | 4.929 | 8.839*** | 8.839 | 5.710 | 4.291 |
Heating Oil | 7.157** | 9.033 | 6.008 | 4.702 | 0.473 | 9.137 | 5.990 | 4.644 |
Diesel NY | 10.037*** | 8.762 | 5.798 | 4.590 | 0.110 | 9.163 | 6.051 | 4.727 |
Kerosene | 22.338*** | 10.050 | 6.168 | 4.622 | 5.021* | 9.275 | 6.209 | 4.675 |