Physical Sciences and Mathematics Commons^™

A Hybrid Deep Learning Approach For Crude Oil Price Prediction, Hind Aldabagh, Xianrong Zheng, Ravi Mukkamala

Computer Science Faculty Publications

Crude oil is one of the world’s most important commodities. Its price can affect the global economy, as well as the economies of importing and exporting countries. As a result, forecasting the price of crude oil is essential for investors. However, crude oil price tends to fluctuate considerably during significant world events, such as the COVID-19 pandemic and geopolitical conflicts. In this paper, we propose a deep learning model for forecasting the crude oil price of one-step and multi-step ahead. The model extracts important features that impact crude oil prices and uses them to predict future prices. The prediction model …