MODELING WORLD NATURAL GAS AND CRUDE OIL TRADE NETWORKS

World energy security is sensitive to stable energy environment and geopolitics that depend on inter-regional energy trade strategies. However, this study uses the network connectedness measures of Diebold-Yilmaz to find the trade cooperation/competition preference for non-renewables' secu- rity development. To this end, the dynamic asymmetries of weighted spillo-ver effects of natural gas and crude oil trade flow components are analyzed throughout world trade networks before-and after the sharp fall in crude oil prices. The results exhibit that natural gas and crude oil trade networks experience asymmetric-and time-varying behavior in response to transitory -vs. permanent components as well as positive-vs. negative shocks pre-and post-sharp fall in crude oil prices. Specifically, the natural gas and crude oil trade networks show a lesser degree of integration after 2014. Moreover, the natural gas trade network represents more (less) weight-ed sensitivity to short-term fluctuations (long-term trend) than the crude oil trade network pre-and post-2014. As the other comparative result, a higher (lower) degree of integration is detected in the crude oil trade network in response to the positive (negative) shocks compared to the natural gas trade network pre-and post-2014. Therefore, a lower level of cooperation prefer-ence among regions is proposed in the natural gas and crude oil trade net-works in response to a sharp fall in crude oil prices. Also, decisions about energy conservation, environmental protection, and protection of strategic resources can affect a region's natural gas and crude oil supply and demand security.