What it is
A distillate burned in the furnaces of homes and buildings, mainly in the north-east of the United States. The futures contract of that name now specifies ultra-low-sulphur diesel delivered in New York Harbor, so it also serves as the United States reference for diesel.
How it is usually quoted
US dollars per gallon.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
CME (NYMEX).
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Winter temperatures in the north-east of the United States
- The price of crude oil
- Distillate inventories
- How hard refineries are running
- Demand for diesel from road freight
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Refined mainly on the US Gulf Coast and East Coast, with imports from Canada and Europe.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Heating oil is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.