Is there an expiry date on oil contracts?
Yes, there is a monthly expiry date on FOREX.com’s oil contracts. FOREX.com oil contract prices are derived from the current (front month) prices of the Brent Crude and West Texas Intermediate contracts trading on the Intercontinental Exchange (ICE) up to the 2nd Wednesday of each month. Between that date and the expiry date of the ICE contract, the FOREX.com oil contracts will be priced from the next futures contract month to avoid expiry-related volatility. At 14:30 EST (19:30 UK time) on the date of expiration, all open contracts will be closed at the closing contract rate and all Open Orders (including GTC and EOD) will be closed. When FOREX.com reopens oil trading, it will be priced against the current rate for the next futures expiry month. For example: On May 1, a trader buys 1 lot of June Brent Crude at 53.80, and the contract is set to expire on May 13th. The trader holds this position right up to the expiration date, May 13th, when it is trading at 59.00. At 14:30 EST (19:30
