Article ; Online: Impacts of crude oil market on global economy
Heliyon, Vol 10, Iss 1, Pp e23874- (2024)
Evidence from the Ukraine-Russia conflict via fuzzy models
1481
Abstract: The increasing Russia-Ukraine crisis is without a doubt Europe's most prominent conflict since World War II, changing the dynamics of the oil and other key markets. Because the oil market has traditionally interacted with other financial and commodity ... ...
Abstract | The increasing Russia-Ukraine crisis is without a doubt Europe's most prominent conflict since World War II, changing the dynamics of the oil and other key markets. Because the oil market has traditionally interacted with other financial and commodity markets, it will be intriguing to examine how it interacts with substantial financial assets amid market volatility induced by a conflict. The goal of this study is to propose a fuzzy time series (FTS) model and to compare its competitiveness to existing fuzzy time series (FTS) models, Autoregressive Integrated Moving Average (ARIMA) model and some machine learning methods i.e. Artificial Neural Networks (ANN), Support Vector Machine (SVM) and XGBoost models. We considered changes in the partitioning universe of discourse, optimization of parameters method(s), and interval estimation to make the forecast accuracy more precise forecasting than traditional methods via MAPE. The event-based data results show the proposed fuzzy time series model is outperforming all the competitive methods in the study. Furthermore, the proposed model forecasting shows a future decline tendency in WTi market crude oil prices (US$/BBL) after being at the record highest level, which is good news for the worldwide economy. |
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Keywords | Autoregressive integrated moving average ; Fuzzy time series ; Optimization ; Forecasting and MAPE ; Science (General) ; Q1-390 ; Social sciences (General) ; H1-99 |
Subject code | 330 |
Language | English |
Publishing date | 2024-01-01T00:00:00Z |
Publisher | Elsevier |
Document type | Article ; Online |
Database | BASE - Bielefeld Academic Search Engine (life sciences selection) |
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