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Cited by 591

The DOI matches its Crossref record; 30 of the 30 references it cites were found in a registry or an index.

The Dynamics of Commodity Spot and Futures Markets: A Primer

Pindyck, Robert S.·2001·The Energy Journal
DOI 10.5547/issn0195-6574-ej-vol22-no3-1
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Abstract

I discuss the short-run dynamics of commodity prices, production, ami inventories, as well as the sources and effects of market volatility. I explain how prices, rates of production, and inventory levels are interrelated, and are determined via equilibrium in two interconnected markets: a cash market for spot purchases and sales of the commodity, and a market for storage. I show how equilibrium in these markets affects and is affected by changes in the level of price volatility. I also explain the role and behavior of commodity futures markets, and the relationship between spot prices, futures prices, and inventory behavior. I illustrate these ideas with data for the petroleum complex - crude oil, heating oil, and gasoline - over the past two decades.

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Metadata

Authors
Pindyck, R. S.
Venue
The Energy Journal
Publisher
SAGE Publications
Published
2001-07
Volume
22
Issue
3
Pages
1-29
ISSN
  • 0195-6574 (ISSN-L)
  • 1944-9089
DOI
10.5547/issn0195-6574-ej-vol22-no3-1
OpenAlex
W2014933671
Cited by
591
References
30
FWCI
23.27
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: The Dynamics of Commodity Spot and Futures Markets: A Primer. https://app.cochat.ai/papers/10.5547/issn0195-6574-ej-vol22-no3-1
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Pindyck, R. S. (2001). The Dynamics of Commodity Spot and Futures Markets: A Primer. The Energy Journal. https://doi.org/10.5547/issn0195-6574-ej-vol22-no3-1

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.