Dependence structure between the international crude oil market and the European markets of biodiesel and rapeseed oil

Being an environmentally friendly fuel obtained from rapeseed oil, biodiesel is used extensively in Europe. However, the dependence structure between global crude oil prices and European of understudied unclear. In this paper, we address gap by utilizing asymmetric copulas cross-quantilogram approaches on daily data. The results DCC-Student-t copula indicate that during bearish periods conditional connectedness (rapeseed oil) are stronger than bullish periods, indicating increased co-movement with a decline prices. application indicates increase price positively influences reflecting among assets. There evidence shifts dynamics quantile dependency financial economic turmoil. Overall, show significant market markets specific under conditions, which have important implications for policymakers investors.