What is the difference in the value of one November heating oil contract between this day's opening and closing prices?
$\begin{array}{llll}
\text { Contact } & \text { Open } & \text {High} & \text { Low}& \text { Close}\
\text { Nov, Heating oil, 42,000 gal, \$ }&3.6703& 3.7489 &3.6652& 3.7342& \
\text { and cents/gal}\
\text {Nov, Crude oil, 1,000 bbls, \$ and }&\text {122.71} &124.50 &122.70 &124.40 \
\text { cents/bbl}
\end{array}$

A)$6.39
B)$24.948
C)$2,494.80
D)$2,683.80
E)$5,940.00

Question

What is the difference in the value of one November heating oil contract between this day's opening and closing prices?
$\begin{array}{llll}
\text { Contact } & \text { Open } & \text {High} & \text {  Low}& \text { Close}\
\text { Nov, Heating oil, 42,000 gal, \$  }&3.6703& 3.7489 &3.6652& 3.7342& \
\text { and cents/gal}\
\text {Nov, Crude oil, 1,000 bbls, \$ and }&\text {122.71} &124.50 &122.70 &124.40 \
\text {  cents/bbl}
\end{array}$

A)$6.39
B)$24.948
C)$2,494.80
D)$2,683.80
E)$5,940.00

Quizplus · Accepted Answer

The difference in the value of one November heating oil contract is calculated by multiplying the difference in the opening and closing prices by the contract size. The difference in price is $3.7342 - 3.6703 = 0.0639$ dollars per gallon. The contract size is 42,000 gallons, so the total difference is $0.0639 \times 42,000 = 2,683.80$ dollars.

What Is the Difference in the Value of One November