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Southern Fuel has an inventory of 632,000 gallons of heating oil. The futures contracts on heating oil are based on 42,000 gallons. If the firm

Southern Fuel has an inventory of 632,000 gallons of heating oil. The futures contracts on heating oil are based on 42,000 gallons. If the firm wishes to fully hedge its inventory, it should take which one of the following positions in heating oil futures contracts?

	short on 16
	long on 17
	short on 17
	short on 15
	long on 15

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