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An oil distributor is planning to sell 100,000 barrels of oil in March (the current future price for March is $90) and wishes to hedge

An oil distributor is planning to sell 100,000 barrels of oil in March (the current future price for March is $90) and wishes to hedge against a possible decline in oil prices. He sold 100 contract , each contract for 1,000 barrels. If at March oil price turns out to be $100. Whats the revenue from oil sales and profit on the futures? A. Revenue $9,000,000, Profit from futures $0. B. Revenue $10,000,000, Profit from futures -$1,000,000. C. Revenue $10,000,000, Profit from futures $0. D. Revenue $9,000,000, Profit from futures $-200,000

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