CME Sets Timetable For Diesel Futures To Replace Heating Oil
July 27 2011 - 1:19PM
Dow Jones News
The world's inaugural energy futures contract, for heating oil
delivered to New York Harbor, will be discontinued after April
2013, replaced on the New York Mercantile Exchange by a contract
for ultra-low sulfur diesel fuel, in response to changing
environmental laws, CME Group said Wednesday.
The demise of the heating oil contract, which began trading in
1978, had long been heralded, but CME set the precise timing with
the announcement.
Heating oil futures currently are listed for trading through
January 2013. CME said that effective Aug. 22 three additional
months will be listed, allowing the contract to trade through the
end of winter before going off the board for good with the April
2013 contract settlement at the end of March.
Also on Aug. 22, the New York Harbor ultra-low sulfur diesel
futures contract, currently listed through January 2013, will be
listed for trade more than five years forward.
-By David Bird, Dow Jones Newswires, 1-212-416-2141
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