Question: A hedger buys a futures contract, taking a long position in the oil futures market. What are the hedger's obligations under this contract? The hedger

A hedger buys a futures contract, taking a long position in the oil futures market. What are the hedger's obligations under this contract? The hedger has the option of purchasing the oil at a fixed price on a future date. The hedger promises to sell the oil at a fixed price on a future date. The hedger has the option of selling the oil at a fixed price on a future date. The hedger promises to purchase the oil at a fixed price on a future date.

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