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What is futures contract?(FINANCE) a financial derivative that consists of a contract to buy a fixed amount of a thing at a fixed price at a fixed time in the future,. For example, a commodity future may specify 1000 British barrels (bbl) of West Texas Intermediate (WTI) crude oil for $85.75/bbl, for delivery at Cushing, OK, on 31 November 2010. SOMEBODY: A futures contract can be extremely valuable for doing business. One of the best examples was Southwest Airlines, which weathered the oil crisis of 2007-2008 with futures for aviation fuel. When the market price of fuel doubled, Southwest was able pay a low, low contract price. futures contract - video |
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