Before revision: Financial market in oil-dependent countries has been always influenced by any changes in international energy market, In particular, oil price.It is therefore of considerable interest to investigate the impact of oil price on financial markets. The aim of this paperis to model the impact of oil price volatility on stock and industry indices by considering gas and gold price,exchange rate and trading volume as explanatory variables.
After revision: In this paper, we model the impact of oil price volatility on stock and industry indices by considering gas and gold price,exchange rate and trading volume as explanatory variables.