In commodity market terminology, Propane refers to a gas which can be turned into a liquid and is derived from the processing of oil or natural gas. Propane is commonly used as fuel for engines, barbecues, residential central heating and portable stoves.
Propane futures trade on the New York Mercantile Exchange and the CME Groupís Globex electronic trading platform. Contracts are for 42,000 gallons or 1,000 barrels and are quoted in U.S. Dollars with a minimum fluctuation of $0.0001 per gallon or $4.20 per contract. The symbol for Propane futures is PN.