etrochemical Parfum (PP) is concerned about a possible increase in the price of heavy fuel oil, which is one of its major inputs. If PP ould use either options or futures contracts to protect itself against a rise in the price of crude oil, compute the payoffs in each case if he oil price were $56, $66, or $76 a barrel. Assume the current price of oil is $56 per barrel, the futures price is $66, and the option xercise price is $66