NYMEX Heating Oil Defined and Explained
NYMEX Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest product after gasoline. The heating oil futures contract trades in units of 42,000 gallons, or 1,000 barrels. The heating oil futures contract is used to hedge diesel fuel and jet fuel.
NY Heating Oil futures Trading Software
Ask any heating oil trader, producer or general investor what trading tools or types of financial analysis he is using and you’re probably going to hear a list of different technologies and methods. However, having the right tool for the job is critical. Trading software can be used to augment an existing approach by supplying an inter-market perspective. The key to a heating oil trading system is its ability to forecast moving averages. One of the better heating oil trading software products is VantagePoint trading software that will help “see” what is likely to happen in the oil market before other traders (using only single-market analysis) catch wind of it.
Trading Heating Oil with VantagePoint Software
Since 1991 VantagePoint Software has been applying Artificial Intelligence to forecast market trends with up to 87.4% accuracy. With more than 25,000 customers in 114 different countries, VantagePoint is the leading AI trading software for Futures.