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Suppose crude oil has no storage costs. Assume that we live in a zero-interest-rate world,...

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Accounting

Suppose crude oil has no storage costs. Assume that we live in a zero-interest-rate world, so you can borrow as much money as you wish, but you cannot get the interest on a bank.
How could you make money if the June and December futures contracts for a particular year trade at $50 and $50, respectively?
Invest funds at a risk-free interest rate & go short on June futures & go long on December futures
There is no arbitrage opportunity.
Invest funds at a risk-free interest rate & go long on June futures & go short on December futures
Borrow funds at a risk-free interest rate & go long on June futures & go short on December futures
Borrow funds at a risk-free interest rate & go short on June futures & go long on December futures
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