Empirical studies show that the oil price volatility causes structural problems (such as commercial payment problems and budget problems) in Iran’s economy. Realizing the mechanism of oil price formation can decrease the risk of oil price volatility and its negative effects on Iran’s economy. The formation of oil price has been changing with the development of oil exchange and future markets so that in short time with the change in the interest rate, the liquidity flow between financial markets and oil market and the price of crude oil deviate from its long-time  path. In this paper, we investigate the deviation of crude oil price from its long-term path with respect to relationships between these markets. For this purpose, as well as multivariate GARCH technique method Fisher price jump model and Frankel theory are applied to test this relationship with using daily time series of the crude oil during 2005-13 across different areas (different markets).