Go to CMEGROUP.COMWe are going to hedge oil, for a bank that has made huge loans to oil producing companies. Choose the July 2020 contract as the underlying future. State if you will go long or short oil. Explain CAREFULLY, not briefly, why you are long or short. What would ten contracts cost you, using the actual CMEGROUP last trade as your price? Show your math, i.e., #gallons times price per futures contract. Is this contract in contango, or normal backwardation?Need detailed steps please.

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State if you will go long or short oil ANS WER I will go short oil Expl ain CARE F ULL Y not briefly ... View the full answer