This study analysed the influence of the ongoing Russia–Ukraine war on US oil prices. The quantile regression estimates revealed that the war increased oil prices. The wavelet coherence analysis also revealed that the war played a key role in oil prices. The study suggested policies that reduced oil prices, such as transition towards renewable energy sources and the provision of government incentives, to minimize the impact of the war.
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Isaac Appiah‐Otoo (2022) studied this question.
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