Market: New York Mercantile Exchange (NYMEX)
Contract Size: 42000 Gallons
Price Quotation: USD/Gallon
Heating oil is the second refined product produced from crude oil; the first is gasoline. Heating oil if the fuel for heating up homes in the winter, so the weather is the biggest factor that influences the price of heating oil. Heating oil is often a hedge for diesel and engine oil suppliers.
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