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Futures Contract
A standardized agreement to buy or sell a specific asset at a predetermined price at a specified time in the future.
Clearinghouse
An intermediary agency that facilitates the clearing and settling of financial transactions, often associated with exchanges and securities.
Profit
The earnings resulting when business activity revenues exceed the necessary expenses, costs, and taxes to maintain the activity.
Long Oil Futures Contract
An agreement to buy oil at a specified price on a specified future date, bet taken with the expectation that oil prices will rise.
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