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Important information on CL trade

On April 20, the price of Light Sweet Crude Oil WTI futures for May delivery saw a historic plunge to the level of 0 USD and even below it due to the current global economic events. In the course of trading on the exchanges, the price tumbled to as low as 40.32 per barrel. It was the steepest fall in oil quotes on record. InstaForex offers its clients the CL trade. This is a futures contract without an expiry date based on the frontmonth WTI futures. The sudden crash in oil prices has caught our clients completely off guard. To protect clients39; deals from staggering losses, InstaForex decided to stop CL trade and close all clients39; positions since most of them were the long deals. As a gesture of goodwill, the company also closed clients39; short deals at 0.07, the last available quote on the trading platforms. All long positions will be closed at a higher quote 2.00. It means that we closed short deals on oil at 1.93 USD lower than buy positions. We hope that these measures will help those who have incurred big losses due to the collapse of oil futures quotes. CL trade will be resumed on April 22 with the June contract. Terug naar de nieuwlijst