Cody Posted April 28, 2020 Share Posted April 28, 2020 how do oil contracts work? for example USoil on my broker went below 0 and the next day it was at $20? Quote Link to comment Share on other sites More sharing options...
0 Sam Farrah Posted April 30, 2020 Share Posted April 30, 2020 Hi Cody, US oil is a cfd product that is based on the pricing of WTI crude futures contracts. As far as I am aware the pricing is based on the nearest months contract. for example, the current USoil price is based on the June contract. When prices went into negatives it was based upon the may contract. However that contract was due to rollover to the next contract I believe a day or two later and so that is why price went back to around 20 dollars the next day. Quote Link to comment Share on other sites More sharing options...
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Cody
how do oil contracts work? for example USoil on my broker went below 0 and the next day it was at $20?
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