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Determine the profit or loss on this transaction

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Reference no: EM133173747

Question - Suppose that on March 3 a trader bought a NYMEX Crude Oil futures contract (1000 barrels) at a price of $85.25 per barrel. Four weeks later the trader closed out this contract at a price of $104.80 per barrel. Determine the profit or loss on this transaction?

Reference no: EM133173747

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