US oil producers have taken advantage of the recent surge in crude prices, locking in future sales to safeguard their revenue. Rising tensions between Iran and Israel sent US crude prices soaring in early October, jumping from $71 per barrel on September 26 to almost $81 on October 7 after a prolonged slump. The sudden spike sparked a flurry of hedging activity, with companies rushing to secure favorable prices through futures contracts, swaps, and options. Hedging protects producers against potential price drops by locking in prices for future…
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