Your oil refinery will need to buy 250,000 barrels of crude oil in one week and it is worried about crude oil prices.Suppose you buy 250 crude oil futures contracts,each for 1000 barrels of crude oil,at the current futures price of $68 per barrel.Suppose futures prices change each day over the next week as follows:
What is the daily and cumulative mark-to-market profit or loss (in thousands)that you will have on each of the next five days?
Definitions:
Astigmatism
A common vision condition caused by an irregular curvature of the cornea or lens, leading to blurred or distorted vision.
Hyperopia
A condition that occurs when light entering the eye is focused behind the retina; commonly called farsightedness.
Myopia
A vision condition also known as nearsightedness, where distant objects appear blurry while close objects are seen clearly.
Presbyopia
A condition associated with aging, where the eye gradually loses the ability to focus on close objects.
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