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Sluggish heating fuel demand due to seasonably warmer
weather in the USA pushed WTI futures prices on the Nymex nearly 10% lower in the early days of the New Year.

However, the *covering* of short positions amid signs of
improving economic data supported a marginal 1.3%
rebound, allowing the contract to close 72¢ higher at $56.31/b following an eighteen-month low.

2007-01-18 20:42:49 · 2 answers · asked by Anonymous in Education & Reference Words & Wordplay

2 answers

Buying out.

A short position is when you sell stock (or in this instance, Futures) that you don't own in the hopes that they will go down and you can buy them back at a lower price.

2007-01-18 20:49:25 · answer #1 · answered by Jack 6 · 0 0

There would seem to be no single word that is a synonym of 'covering' used in the given sentence. Perhaps you could try 'protection against loss', though this also may not be satisfactory.

2007-01-18 23:23:15 · answer #2 · answered by greenhorn 7 · 0 0

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