Muğaloğlu, ErhanPolat, Ali YavuzTekin, HasanDogan, Abdullah2025-09-252025-09-2520212652-64332652-6514https://doi.org/10.46557/001c.24253https://hdl.handle.net/20.500.12573/4308We 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. © 2023 Elsevier B.V., All rights reserved.eninfo:eu-repo/semantics/openAccessCOVID-19 PandemicForecast Error Variance DecompositionOil & Gas SectorSvarArticle10.46557/001c.242532-s2.0-85151851421