Commodity ratio · live
Heating Oil Futures to Lead Futures Ratio
The heating oil futures to lead futures ratio is 0.002283 — Heating Oil Futures at $4.36 per Gallan divided by Lead Futures at $1,909.83 per Metric Ton.
Prices as of Aug 24, 2026, 10:34 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Heating Oil Futures to Lead Futures ratio
1.000 Gal of heating oil futures = 0.002283 T of lead futures
Inverse (LEAD-FUT/HO-FUT): 438.0 — one Metric Ton of lead futures buys that much heating oil futures.
Near the top of its 1 year range — historically stretched. (94th percentile of the last 1 year)
Heating Oil Futures
$4.36
per Gallan
Lead Futures
$1,909.83
per Metric Ton
Unit basis: USD per Gallan ÷ USD per Metric Ton. The ratio reads as Metric Tons of lead futures per Gallan of heating oil futures. Prices as of Mon, 24 Aug 2026 10:34:18 GMT.
1Y average
0.001608
median 0.001639
1Y low
0.0009821
Jan 7, 2026
1Y high
0.002501
Mar 20, 2026
Normal band
0.001161–0.002054
mean ± 1 std dev
Deviation from mean
+1.51σ
326 observations
Heating Oil Futures to Lead Futures ratio charts
Pick a range once — it applies to the HO-FUT/LEAD-FUT ratio line, the OHLC candles and the Heating Oil Futures / Lead Futures price chart below.
HO-FUT/LEAD-FUT ratio line
How many T of Lead Futures one Gal of Heating Oil Futures buys, over 1Y.
HO-FUT/LEAD-FUT ratio candles
Open, high, low and close of the HO-FUT/LEAD-FUT ratio for each period in the last 1Y.
Heating Oil Futures and Lead Futures prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the heating oil futures to lead futures ratio
Heating Oil Futures to Lead Futures ratio = Heating Oil Futures price per Gallan ÷ Lead Futures price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of lead futures per Gallan of heating oil futures — rather than a plain count.
Worked example, live prices: $4.36 ÷ $1,909.83 = 0.002283. The inverse is 438.0.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4647.62 |
| 2 | XAG | Silver | 69.00 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.75 |
| 5 | NG-FUT | Natural Gas Futures | 2.77 |
| 6 | PL | Platinum | 1885.63 |
| 7 | PA | Palladium | 1351.00 |
Frequently asked questions
What is the heating oil futures to lead futures ratio today?
The heating oil futures to lead futures ratio is 0.002283 — Heating Oil Futures at $4.36 per Gallan divided by Lead Futures at $1,909.83 per Metric Ton, from live mid-market prices.
How do you calculate the heating oil futures to lead futures ratio?
Divide the heating oil futures price per Gallan by the lead futures price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of lead futures per Gallan of heating oil futures.
What is the inverse of the heating oil futures to lead futures ratio?
The inverse, lead futures to heating oil futures, is 438.0 — how many Gallans of heating oil futures one Metric Ton of lead futures buys.