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Forecasting the Price of Crude Oil: - The Predictive Power of Futures Prices and Realized Volatility

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Figure

Figure 1: (a) Brent price, 1861-2014. (b) Spot price compared to forward curves, 2004-2015.
Figure 2: Historical prices of the Brent spot and Brent futures contracts over the period February 2006 – February 2015.
Table 6 shows in-sample estimates, spanning the entire sample size, for the return models applying realized volatility

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