Setting a new standard for U.S. heating oil

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 provides 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.

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Spreads

Additional Inter-Commodity spreads to mitigate risk.
Product
ICE Contract Code
NYH ULSHO/Brent Futures Crack O67-B
NYH ULSHO/WTI Futures Crack O67-T
NYH ULSHO/Permian WTI Futures Crack O67-HOU
ICE Heating Oil/NYH ULSHO Futures Spread O-O67
NYH ULSHO/Low Sulphur Gasoil Futures Spread O67-G

Contract size

Each contract represents 1,000 barrels and trades in U.S. dollars and cents per gallon. The minimum price increment is $0.0001 per gallon.

ULSHO trading codes:
ICE code: O67
TT code: O67

Global refined complex

Additional monthly cash settled futures are offered complimenting ICE’s suite of products.
Product
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