NYMEX Gets Approval to Expand Listed Months for Heating Oil Options

The New York Mercantile Exchange has received approval from the Commodity Futures Trading Commission to expand the number of trading months listed for heating oil options from 12 to 18 months. On Friday, April 16, the Exchange will begin listing May, June, July, August, September, and October 2000 heating oil options contracts. Exchange President R. Patrick Thompson said, 'The Exchange is pleased to be able to offer our heating oil industry customers additional risk management flexibility one-and-a-half years into the future. Heating oil distributors have successfully used our options contract for years to offer price caps to their customers so this change will directly benefit consumers all over the Northeast as well.'