2. It is now June. Acompany knows it will sell 5,000 barrels of crude oil in September. Ituses the October CME Group oil futures contract to hedge the price it will receive. Each contract is on 1,000 barrels of "light sweetcrude. What position should it take? a. b. What price risk is itstill exposed to after hedging? 3. In the example above assume the spot and futures prices end up as follows: Spot (/barrel) October oil Futures (S/barrel) June (now) 60 63 September 62 62.50 What net price is received in September if the company is a sellerin spot market with a futures hedge? What net price is paid in September if the company is a buyer in the spot market with a futures hedge? a. b