In what year did the first oil futures contracts appear on the Nymex?

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Multiple Choice

In what year did the first oil futures contracts appear on the Nymex?

Explanation:
Oil futures on NYMEX began in 1983 with the launch of the West Texas Intermediate crude futures contract. This created a standardized, exchange-traded tool for hedging price risk in crude oil and for price discovery. Prior years did not feature an official NYMEX crude oil futures contract, and the expansion of contracts came later. So, 1983 is the year the first oil futures contracts appeared on the exchange.

Oil futures on NYMEX began in 1983 with the launch of the West Texas Intermediate crude futures contract. This created a standardized, exchange-traded tool for hedging price risk in crude oil and for price discovery. Prior years did not feature an official NYMEX crude oil futures contract, and the expansion of contracts came later. So, 1983 is the year the first oil futures contracts appeared on the exchange.

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