NYMEX diesel Aug. futures settle at $2.3898 a gallon

NYMEX diesel Aug. futures settle at $2.3898 a gallon

The NYMEX diesel August futures settled at $2.3898 per gallon on July 2, 2025, reflecting a notable increase from recent months. This price movement can be attributed to several factors, including global supply chain disruptions and heightened demand for diesel fuel, particularly in the transportation sector.

According to CME Group, the average daily volume of heating oil futures exceeded 170K contracts per month in 2019, and its futures are currently traded in 94 different countries on NYMEX [1]. This high liquidity and global reach contribute to the volatility and price sensitivity of the diesel futures market.

The price of $2.3898 per gallon for August diesel futures indicates a significant uptick compared to previous months. This price is influenced by the ongoing geopolitical tensions and the impact of the OPEC+ production cuts, which have contributed to the tightness in the global oil market.

The CME Group Volatility Index (CVOLTM) for NY Harbor ULSD, a robust measure of 30-day implied volatility derived from options on NY Harbor ULSD futures, provides insights into the forward-looking risk expectations on heating oil. This index can help traders and investors gauge the potential price fluctuations in the diesel futures market [1].

In conclusion, the NYMEX diesel August futures settling at $2.3898 per gallon reflects a combination of global supply chain disruptions, heightened demand, and geopolitical tensions. The high liquidity and volatility of the diesel futures market make it a critical component of the global energy market, with significant implications for investors and financial professionals.

References:
[1] https://www.cmegroup.com/markets/energy/refined-products/heating-oil.settlements.html