Mugaloglu, E.Polat, A.Y.Tekin, H.Dogan, A.2024-09-292024-09-2920212652-6433https://doi.org/10.46557/001c.24253https://hdl.handle.net/20.500.14619/8881We investigate the dynamic relationship between global oil prices, the stock market, and oil and gas stock (FTSE-OG) returns in the UK through a structural vector autoregressive (VAR) framework during the COVID-19 pandemic. The structural VAR results suggest that the impact of structural shocks related to the global oil price on FTSE-OG index returns becomes less important and loses its explanatory power during the pandemic. However, stock market shocks increase their explanatory power in the variations of FTSE-OG index returns. © 2021, Asia-Pacific Applied Economics Association. All rights reserved.eninfo:eu-repo/semantics/openAccesscovid-19 pandemicforecast error variance decompositionoil & gas sectorsvarArticle10.46557/001c.242532-s2.0-851518514211N/A2