Help with a futures problem, the question is attached.

Question I Use the followmg futures quotes taken from NYNEX. The spot price of oil IS S66.OO per barrel. Light Crude Oil (NYMEX) (Pice quot fM NYNEX Light Oil At 10 minut Click fu Apr'18 May' 18 Jun'18 Jul'18 Aug' 18 open 64 _42 64_25 64_01 63 _68 63 62_86 High 66_05 65_79 65_45 65_02 64_50 63 so 64_34 64_18 63 63 63 62_78 L ast 66.00 65_75 65_40 64_96 64 _43 63_84 Time 16:12 Set 65_61 24-Jan 16:12 65_36 24-Jan 16:12 65_03 24-Jan 16:12 64_61 24-Jan 16:12 64_12 24-Jan 16:12 63_58 24-Jan Chg 1.14 0.94 0.82 ono 0.60 VoI 854439 226001 112618 16447 60946 40534 Set 6447 64_31 64_09 63_79 63_42 62_98 Op 632941 219593 175237 302145 102216 78666 (a) What are the futures prices (settlement) for March, June and August 2018 delivery of crude oil? (b) Would the August 2018 price be expected to be higher or lower than March's prtce? Explam the quotes that are observed. (c) Using a cost-of-carry model, estimate the implied storage cost (using a continuously compounded rate) for the August 2018 crude 011 contract. Use a risk-free rate of 1.71% continuously compounded per year, and assume that expiration at the end of the mon ffere an arbitrage opportunity? Explain. (d) Explain the difference between volume (Val) and open interest (Op