CME – owner of the NYMEX futures and options exchange – on March 23 announced that it plans to convert its existing high-sulfur heating-oil (gasoil) futures contract to ultra-low sulfur diesel (ULSD) specifications starting May 2013. The move thus will align the heating oil contract with New York and other nearby U.S. states that are switching heating oil (gasoil) standards to the same 15 parts-per-million (ppm) sulfur limit of highway ULSD fuel.
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