Withdrawn from the margin account

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Reference no: EM132028835

A company enters into long futures contract to buy 7,000 barrels of oil for a futures price of $101.17 per barrel. The initial margin is $6,000 and the maintenance margin is $4,000 per contract. Each contract is for 1,000 barrels. What oil futures price (per barrel) will allow $2,000 to be withdrawn from the margin account?

Reference no: EM132028835

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