Another New York Mercantile product heating oil is one of the newer additions to HY Markets tradable products. It is also known as distillate or Number 2 oil. Heating oil is another by-product of the crude oil refining process. About 25% of the crude oil being refined will become heating oil.
Production of this product is increased coming into the winter months to ensure its supply in the months of high demand. A factor to keep your eye on when trading this product is the weather coming into the winter months especially in the Northeast of America.