Valutrades offers four Oil products:
Their prices are different due to the fact that the Cash symbols are daily rolling contracts and the Future symbols are based off the front month Futures contract.
UKOilFut and USOilFut are based off the underlying front month Futures contract which expires once a month. The adjustment for the expiry of the contract rolling from one month to the next has to be made on your trading account. This adjustment is part of the Futures rollover process.
The Futures rollover process rolls your position from the near month to the next and a cash adjustment is applied to your account equal to and opposite to the value of the change in price between the two contracts. This means that there is no profit or loss impact on your account as the position is rolled over.
The Symbols UKOilFutFar and USOilFutFar are the indicative pricing for the far month Futures contracts and will show pricing a few days before rollover. However, it is important to note that these symbols cannot be traded.
The timetable for Futures rollovers and when they will occur on your open positions can be viewed in the Client Area: https://client.valutrades.com/oil-rollovers
Further information on Futures rollovers can also be found here: https://faq.valutrades.com/en/what-is-rollover-why-does-it-occur-and-where-can-i-find-the-rollover-dates
UKOilCash and USOilCash are rolling cash products that do not have a monthly expiry date. As such overnight financing fees are applied to positions that are kept open overnight.
You can view all product specifications, quotes and margin rates for Oil products on our website:
We also invite you to watch our Youtube video on Oil:
If you have any further questions please do not hesitate to contact our support team by live chat, email (email@example.com) or phone (+442031410888)