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In January 201x, the spot price of crude oil was $47.50 a barrel and the one year futures price was $60.38 per barrel. The interest

In January 201x, the spot price of crude oil was $47.50 a barrel and the one year futures price was $60.38 per barrel. The interest rate was about 0.15 percent. What was the net convenience yield? Interpret/explain that result.

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