Measuring Risk for WTI Crude Oil - An application of Value-at-Risk
Crude oil is the most traded energy commodity in the world, and its price has a large impact on the everyday life of billions. Given the volatility of crude oil prices and its enormous effects on economies worldwide, there has been a growing demand for risk quantification and risk management for the market participants. The measurement known as Value-at-Risk (VaR) has become the industry standard