What is heating oil?

Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. The heating oil futures contract trades in units of 42,000 gallons (1,000 barrels) and is based on delivery in New York harbor, the principal cash market trading center.

How many gallons can a home heating oil tank fit?

Use our oil tank level calculator to quickly convert inches of oil to gallons, based on tank geometry. This tank can fit about 250 gallons Many home heating oil tanks are equipped with a float gauge that will indicate roughly how full a tank is, but this is not a very accurate way to measure your oil level.

What time does heating oil trade on NYMEX?

Heating Oil's average daily volume exceeded 170K contracts/month in 2019, and its futures are currently traded in 94 different countries on NYMEX. 42,000 gallons U.S. dollars and cents per gallon Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each …