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MyWikiBiz, Author Your Legacy — Friday November 15, 2024
Jump to navigationJump to searchAdding NAICS Code semantic tags
Heating oil futures contracts trade in units of 42,000 gallons, which is the equivalent of 1,000 barrels. Prices are based on delivery in [[Directory:New York, New York|New York City]] harbor, the principal cash market trading center. The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to heating oil futures.
Heating oil futures contracts trade in units of 42,000 gallons, which is the equivalent of 1,000 barrels. Prices are based on delivery in [[Directory:New York, New York|New York City]] harbor, the principal cash market trading center. The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to heating oil futures.
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Businesses operating in the heating oil sector will identify themselves by the following 5-digit [[NAICS]] codes:
* '''[[NAICS_Code1:=45431]]''' - Heating oil dealers, direct selling
* '''[[NAICS_Code2:=32411]]''' - Heating oils made in petroleum refineries
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