Consider an Oil Swap in Which You Pay the Floating $A$

Multiple Choice

Consider an oil swap in which you pay the floating price of oil in exchange for a fixed amount $A$ . The price of a new oil swap (i.e., the breakeven value $A$ ) increases when

A) The spot price of the commodity declines.
B) The convenience yield on the commodity increases.
C) Interest rates rise.
D) All of the above.