What are heating oil futures?

NY Harbor heating oil futures (HO) are traded at the New York Mercantile Exchange (NYMEX) in units of 42,000 gallons (1,000 barrels), and are based on delivery in New York harbor, the principal cash market trading center. 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, and can be traded nearly 24 hours per day, 6 days per week.

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How to trade heating oil futures

Heating oil futures contracts are offered through NYMEX on the Globex® trading platform and are available to trade electronically through Schwab nearly 24 hours per day, 6 days per week. In addition to heating oil futures, NYMEX-listed crude oil (CL), natural gas (NG), and unleaded gasoline (RB) futures contracts are available to trade at Schwab. An account approved to trade futures is required in order to trade heating oil futures.

Heating oil futures contract specifications

Considering trading heating oil futures? Here are the heating oil futures contract specifications.

Exchange, Product Name, Product Code New York Mercantile Exchange (NYMEX), NY Harbor ULSD Heating Oil, HO
Contract Size 42,000 U.S. Gallons
Minimum Tick Size and Value 0.0001 cent per gallon, worth $4.20 per contract.
Trading Times Heating oil futures trade electronically on the Globex® platform from 6:00 p.m. U.S. ET until 5:00 p.m. U.S. ET, Sunday through Friday.
Principal Trading Months Primary heating oil futures contracts trade every calendar month, from January through December.

At Schwab, you also get access to advanced trading platforms and education, where you can take advantage of market research, real-time heating oil futures quotes, and other specialized tools.

Why trade heating oil futures?

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