[IEEE 2008 International Conference on Intelligent Sensors, Sensor Networks and Information Processing (ISSNIP) - Sydney, Australia (2008.12.15-2008.12.18)] 2008 International Conference on Intelligent Sensors, Sensor Networks and Information Processing - Forecasting model for crude oil prices based on artificial neural networks

✍ Scribed by Haidar, Imad; Kulkarni, Siddhivinayak; Pan, Heping

• Book ID: 120166772
• Publisher: IEEE
• Year: 2008
• Weight: 229 KB
• Category: Article
• ISBN: 1424438225
• DOI: 10.1109/ISSNIP.2008.4761970

✦ Synopsis

This paper presents short-term forecasting model for crude oil prices based on three layer feedforward neural network. Careful attention was paid on finding the optimal network structure. Moreover, a number of features were tested as an inputs such as crude oil futures prices, dollar index, gold spot price, heating oil spot price and S&P 500 index. The results show that with adequate network design and appropriate selection of the training inputs, feedforward networks are capable of forecasting noisy time series with high accuracy.