Effective Sunday, April 29, 2012, for trade date Monday, April 30, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the contract specifications for its New York Harbor Heating Oil futures (HO) contract beginning with the May 2013 HO contract month and expand its listing schedule to the balance of the current year, the next three (3) consecutive years plus one (1) additional contract month. Additionally, the Exchange will expand the listing schedule of certain HO associated products as detailed in the table below.
The new grade and quality specifications of the HO contract will require delivery of fuel meeting specifications of the Colonial Pipeline's Fungible Grade 61 for Ultra Low Sulfur Diesel (ULSD), beginning with the May 2013 HO delivery month. The Exchange is amending the HO grade and quality specifications in response to changes in environmental regulations in the U.S. Northeast, requiring cleaner, lower sulfur diesel standards for heating oil.
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