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| NYMEX miNY™ Heating Oil |
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Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. Options on futures, calendar spread options contracts, crack spread options contracts, and average price options contracts give market participants even greater flexibility in managing price risk.
The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to NYMEX Division New York harbor heating oil futures.
The Exchange also lists for trading on the CME Globex® trading platform a series of heating oil swap futures contracts based on crack spreads, location differentials, and differentials between NYMEX Division New York harbor heating oil futures and jet fuel and diesel fuel. |
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