Heating Oil Futures

Heating Oil Futures Contracts:

• Ticker Symbol: HO
• Exchange: NYMEX
• Trading Hours: 9:00 AM until 2:30 PM EST.
• Contract Size: 42,000 U.S. gallons (1,000 barrels)
• Contract Months: all months(Jan. - Dec.)
• Price Quote: U.S. dollars and cents per gallon. Ex $2.15 per gallon
• Tick Size: $0.0001 (0.01?) per gallon ($4.20 per contract).
• Last Trading Day: close of business on the last business day of the month preceding the delivery month.

Heating Oil Futures - Fundamentals :

Heating oil is also called a distillate or Number 2 oil.

When crude oil is refined, about 25 percent of the oil becomes heating oil and about 50 percent becomes gasoline. Heating oil is primarily used to heat homes in the Northeast.

The United States produces about 85 percent of its heating oil, while the remainder is imported from Canada, the Virgin Islands and Venezuela.

Oil companies begin to ramp up production of heating oil before the winter season begins to ensure ample supplies of heating oil to meet the winter demand.

Heating Oil Futures Reports:

The main report for heating oil is the EIA Weekly Energy Stocks report.

Weather during the winter months of December, January and February are critical to watch. The weather in the Northeast is the place to focus.

Tips on Trading Heating Oil Futures:

Source: http://commodities.about.com/od/profilesofcommodities/p/heating_oil.htm

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