Residents of the northeastern United States suffered record-setting low temperatures throughout November and December 2024. Spot prices
Question:
Residents of the northeastern United States suffered record-setting low temperatures throughout November and December 2024. Spot prices of heating oil rose 25%, to over $7 a gallon.
a. What effect did this have on the net convenience yield and on the relationship between futures and spot prices?
b. In late 2025 refiners and distributors were surprised by record-setting high temperatures. What was the effect on net convenience yield and spot and futures prices for heating oil?
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a A shortage of heating oil increases net conveni...View the full answer
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Related Book For 
Principles of Corporate Finance
ISBN: 978-1260013900
13th edition
Authors: Richard Brealey, Stewart Myers, Franklin Allen
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