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Month: August 2021

Understanding Winter Seasonality of Heating Oil Futures Prices



On the Chicago Mercantile Exchange (CME), energies play a pivotal role in daily trade. It doesn’t matter whether you’re an institutional hedger or retail speculator, the odds are good that there’s an ideal CME contract well-suited for your needs.
The global energy complex is a dynamic atmosphere, featuring a lineup of exciting products. From the CME’s benchmark West Texas Intermediate (WTI) crude oil contract to NY Harbor ULSD heating oil, opportunity is always afoot. Let’s dive deeper into what the NY Harbor ULSD contract is, its functionality, and a few key drivers of heating oil futures prices. 
What Are NY Harbor ULSD Heating Oil Futures?
There are two types of energy futures contracts listed for trade on the CME: commodity and refined. Featuring WTI crude oil (CL) and Henry Hub natural gas (NG), commodity futures are the more popular of the two. However, New York Harbor Ultra-Low Sulfur Diesel (NY Harbor ULSD, HO) and Reformulated Blendstock for Oxygenate Blending gasoline (RBOB, RB) are refined contracts vital to global commerce.
Technically listed on the NYMEX, a division of the CME Group, NY Harbor ULSD heating oil is a multipurpose refined diesel fuel. Primary uses for NY Harbor ULSD are as fuel for transportation and home heating.
Since 2010, NY Harbor ULSD has been the standard for U.S. highway diesel fuel. Also, it’s easily adaptable to home heating. The “NY Harbor” aspect of the product’s description refers to physical distribution centers located in New York Harbor. The location of these hubs makes New York a key locale in the ULSD cash market.
To capitalize on heating oil futures prices, understanding the following specs for CME NY Harbor ULSD is a must:
Symbol
HO
Size
42,000 gallons
Quotation
U.S. dollars and cents
Minimum Tick
$0.0001 per gallon
Tick Value
$4.20 per tick
Expiration
Monthly
Settlement
Physical Delivery
In addition to these specs, it’s worth noting that HO daily volumes regularly exceeded 170,000 traded contracts per month in 2019. The steady volumes are attributable to the HO contract being engaged by traders in 94 different countries.   
Seasonal Trends in NY Harbor ULSD Heating Oil Futures Prices
Perhaps the single greatest underpinning of commodities and commodity-based asset prices is the relationship between supply and demand. Although the supply-demand dichotomy can be extremely complex, it boils down to this: When demand increases, prices rise; when supplies increase, prices fall. NY Harbor ULSD heating oil futures prices are no different ― when consumption spikes, so does the price.
Traditionally, the seasonality of HO runs contrary to that of other energies, such as WTI crude oil and RBOB gasoline. According to the U.S. Energy Information Agency (EIA), heating oil futures prices trend upward from October through March. The reason for this is simple ― increased demand. In fact, the EIA estimates that a homeowner in the Northeast burns between 850 gallons to 1,200 gallons of heating oil in a typical winter, while burning little to none the remainder of the year. Given the uptick in demand, HO prices cycle up in the fall and winter before falling in the spring and summer.
In addition to seasonality, heating oil futures prices hinge on these two broad market drivers:
Crude oil prices: Heating oil is a crude oil derivative. Thus, when the prices of crude oil rise, heating oil follows suit.
USD strength: The relative strength of the U.S. dollar (USD) impacts commodity-based products across the board. When the USD strengthens, both crude oil and heating oil futures prices tend to retreat. 
Are You Ready to Trade Your ESG Values?
As the financial markets evolve, the importance of environmental, societal, and governmental (ESG) sustainable investing continues to grow. To learn more about how you can profit from strategies complementary to your ESG values, sign up for our free webinar, The Future of Sustainable Investing. Featuring keynote speakers Paul Woolman (Senior Director, CME Group Equities Products and Alternative Investments) and Reid Steadman (Managing Director, S&P Dow Jones Indices Global Head of ESG), The Future of Sustainable Investing is a great place to begin pursuit of your financial and ESG objectives.



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The Modern Guide to Stock Market Investing for Teens: How to Ensure a Life of Financial Freedom Through the Power of Investing.

Price: $3.17
(as of Oct 21,2021 19:01:32 UTC – Details)


Investing is the best thing teenagers can do to build long-term wealth and become financially free because each dollar invested as a teen will become worth exponentially more. This book, written by a fellow teen, covers everything a teen will need to know to understand and have success in the stock market, as well as provides an introduction to related topics including personal budgeting, saving money, and making money. We’ll also explore concrete, real-life examples, and learn from the world’s most successful investors. As the author, I wrote this book so investing can change other’s lives as it changed and continues to change mine. No matter who you are, no matter your age and no matter the amount of money you have, you can invest, and this book will help you do just that.

Publisher‏:‎Alan John (April 18, 2020)
Language‏:‎English
Paperback‏:‎130 pages
ISBN-10‏:‎1087879337
ISBN-13‏:‎978-1087879338
Reading age‏:‎13 – 18 years
Grade level‏:‎7 – 12
Item Weight‏:‎7.1 ounces
Dimensions‏:‎6 x 0.31 x 9 inches

Betsey Johnson Angel & Devil Mismatch Front/Back Earrings


Price: $30.00
(as of Oct 21,2021 19:01:32 UTC – Details)



Betsey Johnson mismatched front-back earrings featuring heart-shaped faceted stone stud at front with pearl angel drop at back embellished with pave stone accents. The other pair features pearl devil stud at front with heart-shaped faceted stone drop at back. Earrings are set in rose gold and black plated metal with a post back closure.

Package Dimensions‏:‎3 x 2.8 x 0.8 inches; 0.32 Ounces
Item model number‏:‎B10745-E01
Department‏:‎Womens
Date First Available‏:‎October 9, 2015
Manufacturer‏:‎Betsey Johnson Jewelry
ASIN‏:‎B0113WBRX2
Country of Origin‏:‎China

Two-tone metal with glass and plastic
Length: 1″
Width: 0.3″-0.75″
Post back closure
Imported

HP Chromebook X360 12-Inch HD+ Touchscreen Laptop, Intel Celeron N4000, 4. GB SDRAM, 32 GB eMMC, Chrome (12b-ca0010nr, Ceramic White)


Price: $399.99 - $272.20
(as of Oct 21,2021 19:01:32 UTC – Details)



You need more because you do more. Meet the versatility of the HP Chromebook 12 that features a 360° hinge that adapts to keep up with your busy lifestyle. With the performance and features you want, this portable PC comes with the best of chrome and Android so you can go farther with a long battery life.
– with the versatility of a 360° hinge, the beauty of a touch HD+ micro-edge display combined with a 3: 2 aspect ratio for a better browsing experience, This convertible Chromebook adapts to your needs.
– see more of the Web with less scrolling. A 3: 2 aspect ratio delivers an optimized portrait view for a more comfortable way to read or surf.
– get the features and portability you need to get things done — featuring an Intel processor and graphics, a fan less design for a more quiet computing experience, a seamless metal keyboard deck, us I Universal stylus support, Google’s standardized active Stylus specification for Chromebooks, and long battery life.
– The millions of Android apps you know and love on your phone and tablet can now run on your chrome device without compromising their speed, simplicity, or security.
– streamlined, premium metal design delivers a thinner, lighter PC while providing robust durability—thanks to advanced 3D metal-forming technology.
– innovatively engineered to rotate 360º so that you can use your device in four positions. Work in laptop position, watch in reverse position, play in tent position, and go in tablet position.
– by squeezing a larger screen into a smaller frame, This ultra-thin, barely visible bezel revolutionizes your display’s appearance with a beautifully efficient design.
– This easy-to-use operating system was designed to be fast in every possible way, while keeping you safe and more secure on the web.

Reliable performance and expansive Display: stream, surf and speed through tasks from sun up to sun down everyday with the portable PC built to keep you productive and entertained from anywhere, Plus dual microphones with advanced noise reduction Software so you’re always crystal clear when you video chat or record
Four versatile modes: easily convert from laptop mode to tablet, stand or tent mode for notetaking, drawing and other daily activities that feel as natural as pen on paper
Google play store: the millions of Android apps you know and love on your phone and tablet can now run on your chrome device without compromising their speed, simplicity or security
Processor: intel(r) celeron(r) N4000, Dual-Core, 1.1 GHz Base frequency, up to 2.6 GHz burst frequency
Display: Enjoy movies and photos with high-definition detail of 1 million pixels and 14.0-Inch diagonal HD SVA bright View WLED-backlit Display (1366×768)
Memory: 4 GB LPDDR4-2400 SDRAM (not upgradable)
Pen capability for the creative souls – paint a picture, flaunt your calligraphy or just doodle

Illuvium hits new highs as interest in NFT-based blockchain gaming skyrockets


The world of nonfungible tokens and blockchain gaming has seen immense growth and progress towards mainstream adoption in 2021. Recently, the movement picked up steam as an array of celebrities and internet influencers jumped on the hype train by purchasing premium digital collectibles. 

One project that has quickly risen in value over the past two months as details about its ongoing development trickle to the public is Illuvium (ILV), an open-world fantasy battle game built on the Ethereum (ETH) blockchain.

ILV/USD 1-day chart. Source: CoinGecko

Data from CoinGecko shows that after hitting a low of $29.32 on June 22, the price of ILV skyrocketed 1,765% to post a new all-time high at $545.26 on Aug. 13.

Three reasons for the tremendous price growth seen in ILV include the introduction of multi-asset staking features on the ILV protocol, the steady release of teaser clips and NFTs that provide a glimpse into how the gameplay will look and the general strength of the NFT sector which has been gaining momentum since July.

Multi-asset staking opportunities increase token demand

Decentralized finance and its ability to offer users and token holders a yield on their investment has been one most successful trends in the crypto sector.

In an effort to capture some of this momentum, as well as improve the tokenenomics of the ILV token, the team at Illuvum introduced staking capabilities for ILV on June 30, and later they expanded its capabilities to include other popular projects like Axie Infinity (AXS) and Synthetix (SNX).

At the time of writing, the flash pools for staking AXS and SNX are sold out but ILV token holders can earn a 39.77% yield from flexible staking that can be withdrawn at any time, or 79.53% for those willing to lock their tokens on the protocol for 52 weeks.

Users who provide liquidity for the project on SushiSwap can earn a yield that ranges from 283% to 566% depending on the amount of time locked.

Product teasers excite the community

A second reason for the increased attention and excitement Illuvium has received over the past month has been the steady release of new project details and character graphics that have given community members an idea of what the gameplay will look like.

As part of its outreach efforts, the team has also designed custom characters for different influencers like Chico Crypto, Satoshi Stacker and Clix.

This strategy of specialized NFTs for influencers helped drive up interest in the project as the influencers promoted Illuvium to their communities and gave them an opportunity to win one of the custom NFTs.

Related: Corporate brands target NFTs, and adoption continues to skyrocket

NFT and blockchain gaming sector strength

A third reason for the growth seen in Illuvium has been the overall growth in the wider NFT and blockchain-based gaming sectors, which have been the best performers over the past two month

Some of the breakout stars of the summer include Axie Infinity, a blockchain-based trading and battling game where some players earn enough money to pay their monthly living expenses, and Audius, a decentralized music-sharing and streaming protocol that enables direct transactions between listeners and creators by converting songs into NFTs.

Evidence of the skyrocketing demand for NFTs can be found in the daily trading volume on OpenSea, the most popular marketplace for NFTs, which saw a record $3 billion in sales volume during the month of August. 

To add a little perspective, as of Aug. 2 the total year-to-date accumulated volume on OpenSea was $1.02 billion, meaning that the volume seen during the month of August was nearly three times higher than the total volume traded between January 1 and August 2 of 2021. 

A word of caution is warranted at these times, however, because the NFT sector has been known to reverse direction at the drop of a hat and send token values plunging as traders race for the exits.

Recent examples of this include Alien Worlds (TLM) and MyNeighborAlice (ALICE), which both experienced significant price increases ahead of their full product launches, only to have their values collapse by more than 90% once released.

If the Illuvium protocol can avoid these pitfalls and make good on its promise to become the first AAA-rated game on the Ethereum blockchain, ILV has the potential to see further price appreciation as the blockchain-gaming industry goes mainstream.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.