Valuation of a Forward Contract

John has entered into a forward contract to buy 1,000 barrels of oil at a forward price of $70 per barrel. The current spot price of oil is $65 per barrel, and he expects the spot price to rise to $75 per barrel by the time the contract matures in six months. Assume there are no costs associated with carrying or storing the oil, and risk-free rates are negligible.

What will be the value of John's forward contract at the end of the six months, assuming the anticipated spot price is realized?