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Update to Crude Oil CFD trading conditions

May 20, 2020 15:30

crude oil cfds

Dear Traders,

Admiral Markets is making the following changes to trading conditions on the US crude oil as of Wednesday 20 May, 2020:

1. New WTI oil CFD

We have added a new rolling CFD on US crude oil (symbol: CRUDOIL), please find all details in our Contract Specifications.

The addition of this new instrument is made in order to provide our clients with an opportunity to trade US crude oil on the basis of the near futures prices, since the existing WTI symbol was previously swapped to more distant futures to avoid the negative pricing issue in April.

Symbol

Price level (19.05.2020)

Key facts

WTI

$11

  • Rolling CFD contract based on December futures
  • Before the negative price event in April 2020, it was based on the near futures
  • The price difference with the near futures is automatically reduced by 0.61% daily, so there is a higher overnight fee for Buy positions
  • No expiration

CRUDOIL

$32

  • Rolling CFD contract based on the near futures
  • No increased overnight fee
  • No expiration

_CrudeOilUS_

$32

  • Futures CFD
  • Zero overnight fees
  • Monthly expiration

2. Changes to overnight fees on WTI CFD (symbol: WTI)

Overnight fees (swaps) on WTI CFD have been updated to:

  • long -260% annually
  • short +10% annually

We need to keep a higher rollover cost for long positions on this symbol as its current pricing model is designed to gradually catch up with the near month futures following the April oil prices event, as described in the Contract Specifications.

Kind Regards,

Admiral Markets