Your utility company will need to buy $100,000$ barrels of oil in $10$ days' time, and it is worried

about fuel costs. Suppose you go long $($buy$)100$ oil futures contracts, each for $1000$ barrels

of oil, at the current futures price of $$60\mathrm{.}03$ per barrel.

Suppose futures prices change each day as follows.

a$.$ What is the marking$-$to$-$market profit or loss $($in dollars$)$ that you will have on each date?

b$.$ What is your total profit or loss after $10$ days? Have you been protected against a rise in

oil prices?

c$.$ What is the largest cumulative loss you will experience over the $10-$day period? In what case

might this be a problem?

a$.$ What is the marking$-$to$-$market profit or loss $($in dollars$)$ that you will have on each date?

$($Round the price change to the nearest cent and the profit$/$loss to the nearest dollar.$)$