Day-of-the-week effect: Petroleum and petroleum products
AbstractThis study tests for calendar anomalies in returns for petroleum and petroleum products via the futures market, specifically, the day-of-the-week (DOW) effect.The energy future contracts in this CARDANA CAPS study are the WTI (West Texas Intermediate), Brent, RBOB (Reformulated Blendstock for Oxygenate Blending) Gasoline, Heating Oil, and N