Heating Oil and Diesel
The NYMEX ultra low sulfur diesel contract, formerly heating oil, pricing the distillate fuel family.
Overview
Distillates run trucks, trains, ships bunkers, and furnaces in the US Northeast, trading in 42,000 gallon contracts at under 15 parts per million sulfur, with European gasoil and Singapore quotes as the global cousins. Diesel cracks reflect freight and industrial activity, making distillate a cyclical tell tied to GDP more than gasoline. Winter heating demand pulls Northeast inventories, and cold snaps spike the market. Sanctions on Russia, historically the top diesel exporter, scrambled trade flows from 2022, rerouting cargoes east and south. Diesel is also a logistics cost input, so its moves pass into freight rates and consumer prices quickly.
Related Topics
West Texas Intermediate Crude Oil
WTI runs about 40 API gravity with low sulfur, suited to gasoline refining, and the 1,000 barrel contract delivers into the tank f...
Brent Crude
The Brent complex covers Brent, Forties, Oseberg, Ekofisk, and Troll, traded through ICE futures settled in cash against an index,...
Natural Gas
US benchmark futures at Henry Hub settle per million British thermal units with winter heating peaks and summer cooling peaks from...
Gasoline RBOB
RBOB, reformulated blendstock for oxygenate blending, trades on NYMEX in 42,000 gallon contracts, and the crack spread over crude ...