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.
Price level (19.05.2020)
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.