Author(s)

Yadi Li

Corresponding Author

Yadi Li

ABSTRACT

This article divides the influence of China’s crude oil futures market on pricing power into three aspects: domestic influence, Asia-Pacific regional influence, and international influence. The daily settlement price of crude oil is analyzed based on the mean spillover effect of the VAR model and the volatility spillover index analysis based on static and dynamic perspectives. It can be concluded that China's crude oil futures market has produced a two-way and asymmetric spillover effect on the domestic crude oil market, the Asia-Pacific crude oil market, and the international crude oil market, but the impact on other markets is not as high as that by other markets and needs to be further improved.

KEYWORDS

Pricing Influence, Spillover Effect, Spillover Index