You wish to speculate on the price of oil and think that it will increase. The current futures price is $95 (per barrel) and the contract size is 1,000 barrels. The margin requirement is 10%.

a) Describe the position that you will take (LONG or SHORT position).

b) If the futures price decreases to $91 (per barrel), compute the rate of return on your futures position. PLEASE SHOW ALL OF YOUR WORK and provide a detailed answer with all of the calculations.