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The crude oil is one of the major energy resources in our lifetime and plays its crucial role in our economy. How the stock prices of the oil industry will react to the foreseeable rising price that is important issue needed to be investigated. This research analyzes the relationship among oil price¡BSpread¡BDow Jones Index and five integrated oil and gas companies which are traded in NYSE. We found that the stock prices of all five companies were not related to Dow Jones Index and themselves according to the Granger-Causality test. We also found that the movement of Exxon¡¦s stock prices has significantly impact on the stock prices of the other four oil companies based on the results of the impulse function. In the long run, the five company¡¦s stock prices, oil price and Spread are jointly cointergrated, but not for only five companies considered. According to the VECM (Vector Error Correction Model), Spread could affect the changes in five oil company¡¦s stocks in short run, but not vice versus. It may explain that the investor would pay more attention on the future volatility of oil price into their investment strategies.

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Thesis (Ph.D.)--University of Tulsa, 1989.

Thesis (Ph.D.)--University of Tulsa, 1988. / Bibliography: leaves 250-253.

Thesis (Ph. D.)--University of Texas at Austin, 2002. / Vita. Includes bibliographical references. Available also from UMI Company.

Thesis (M.S.)--Brigham Young University. Dept. of Chemical Engineering, 2007. / Includes bibliographical references (p. 27-28).

Thesis (Ph. D.)--University of Alberta, 2010. / Title from pdf file main screen (viewed on June 11, 2010). A thesis submitted to the Faculty of Graduate Studies and Research in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Chemical Engineering, [Department of] Chemical and Materials Engineering, University of Alberta. Includes bibliographical references.

Thesis (M.S.)--West Virginia University, 2006. / Title from document title page. Document formatted into pages; contains xi, 106 p. : ill. (some col.). Includes abstract. Includes bibliographical references (p. 104-106).