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If you are long a futures contract on oil: a. You benefit when the price of oil rises above the contract price and lose when

If you are long a futures contract on oil:

a. You benefit when the price of oil rises above the contract price and lose when it falls below the contract price

b. You benefit when the price of oil rises above the contract price but break even when it falls below the contract price

c. You do not have to do anything at the contract date if the oil price is unfavorable

d. You profit and loss will likely be much greater than if you were short the same contract

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