CME to require biofuel free diesel for new heating oil spec
NEW YORK Jan 15 (Reuters) - CME Group said on Tuesday that the specification of its heating oil contract from May 2013 will contain no renewable fuel or biodiesel, matching the "Grade 62" of ultra-low sulfur diesel (ULSD) carried on the Colonial Pipeline.
"Because the ULSD contract will have no renewable content, it will serve as a dual-use contract for both Northeast heating oil and the on-road diesel market in the United States," CME spokesman Damon Leavell said in an email.
"The new specs will also more closely match diesel specifications in international markets, including the European ULSD market."
The heating oil contract specification is switching to lower sulfur diesel from May to reflect changes in environmental requirements in the Northeast.
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