the price at which a commodity is actually sold in the market is known as?
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The futures price is different than the spot price or cash price, which is the actual price of the commodity that one would pay for it today. For example, if an oil refiner buys 10,000 barrels of oil for $50 per barrel from an oil producer, $50 per barrel is the spot price.
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Answer:
The futures price is different than the spot price or cash price, which is the actual price of the commodity that one would pay for it today. For example, if an oil refiner buys 10,000 barrels of oil for $50 per barrel from an oil producer, $50 per barrel is the spot price.
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