Financial futures are traded on the CME Group market. A large array of products are covered: corn, soy, oil, natural gas, electricity, gold, copper, Euros, major equity indices, and interest rates.

They give the opportunity to sophisticated investors to speculate on the price changes in many markets.

Recently, the price of oil futures went extremely low. Suppose you think the price of oil will go back up. What position should you take on the oil futures market: long or short? Explain.