Oil Futures Prices Beat Random Walk Model for Short-Term Forecasting.
The article compares futures prices to a model called Random Walk to see which is better at predicting future oil prices. It also looks at factors that affect oil prices, like supply and demand. The study finds that crude oil futures are better than the Random Walk model for predicting future oil prices, especially in the short term. However, relying solely on futures to predict oil prices may not always be accurate.