Demand is rising for a RIN-less futures contract that represents the cross Atlantic flow of diesel and the domestic home heating oil barrel, as record distillate volumes are transported through New York Harbor.
The physically delivered futures contract will provide an accurate hedging tool complimenting ICE’s Low Sulphur Gasoil futures with physical delivery of Amsterdam, Rotterdam or Antwerp (ARA) along with ICE’s Singapore Gasoil financially settled contract.
Listed as a ULSD 67 grade, the NY Harbor Ultra Low Sulphur Heating Oil is designated by the Environmental Protection Agency (EPA) as a heating oil, therefore the price of Renewable Identification Numbers (RINs) is excluded from the contract.
The ULSHO contract has a familiar physical delivery mechanism, expiry and rulebook, providing an efficient setup process and effective price discovery available for global market participants.
Subject to regulatory approval
ICE Contract Code
|Heating Oil Outright - NYH ULSHO 1st Line Future||NYF|
|Diesel Diff - Gulf Coast ULSD (Platts) vs NYH ULSHO 1st Line Future||NYD|
|Jet Fuel Diff - Gulf Coast Jet Fuel (Platts) vs NYH ULSHO 1st Line Future||NYJ|
|Heating Oil Arb - NYH ULSHO 1st Line vs Low Sulphur Gasoil 1st Line Future (in Bbls)||NYG|
|Heating Oil Crack - NYH ULSHO 1st Line vs Brent 1st Line Future (in Bbls)||NYH|
|Heating Oil Crack - NYH ULSHO 1st Line vs WTI 1st Line Future (in Bbls)||NYW|
|Heating Oil Crack - NYH ULSHO 1st Line vs Permian WTI 1st Line Future (in Bbls)||NYP|