Energies: Contract Details
Our Energy contracts offer exposure to changes in oil and gas prices. All our contracts expire at specified forward dates and are cash settled; we quote you our own bid/offer spread based on the underlying oil or gas price. Based on the underlying market, spreads may vary to those specified in the Contract Details.
Note: We offer mini versions of all Standard Forward Energy contracts at 50% of the main contract size and margin requirement (25% for Natural Gas).
Energies Information Table (Standard contracts)
| Contract and dealing hours (local time) |
Value of one contract (per index point) |
Normal spread | Ltd Risk premium | Margin Requirement (per contract) | Contract months and last dealing day (7) |
|---|---|---|---|---|---|
| Light Crude Oil (US) 24 hours (except 17.15-18.00) |
$10 | 6 | 4 | $5910 | Current and next month 3rd trading day prior to 25th calendar day of prev. month (5) |
| Brent Crude Oil (UK) 01.00-23.00 |
$10 | 6 | 4 | $6750 | Current and next month 1st or 2nd bus. day preceding 15th day prior to 1st day of delivery month |
| Heating Oil (US) 24 hours (except 17.15-18.00) |
$4.20 | 30 | 20 | $7425.60 | Current and next month Last bus. day of previous month |
| No Lead Gasoline (US) 24 hours (except 17.15-18.00) |
$4.20 | 30 | 20 | $13,500.18 | Current and next month Last bus. day of previous month |
| Natural Gas (US) 24 hours (except 17.15-18.00) |
$10 | 30 | 20 | $6410 | Current and next month 6 trading days prior to the first calendar day of contract month |
| Gas Oil (UK) 01.00-23.00 |
$100 | 1 | 0.6 | $5700 | Current and next month 3rd bus. day prior to 14th day of contract month |
| Carbon Emissions (UK) 07.00-17.00 |
E10 | 20 | 30 | E1400 | Mar, Jun, Sep, Dec Trading day preceding 3rd Fri. of contract month |
Energies Information Table (AUD denominated contracts)
| Contract and dealing hours (local time) |
Value of one contract (per index point) |
Normal spread | Ltd Risk premium | Margin Requirement (per contract) | Contract months and last dealing day (7) |
|---|---|---|---|---|---|
| Light Crude Oil (US) 24 hours (except 17.15-18.00) |
A$1 | 6 | 4 | A$591 | Current and next month 3rd trading day prior to 25th calendar day of prev. month (5) |
Notes to table
All the instruments described on this site are Contracts For Difference (CFDs). Our Energies give you exposure to changes in the value of oil and gas prices but they are cash settled and cannot result in the delivery of any commodity or instrument.
- Our Energy contracts give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.
- We will quote an 'all-in' spread that includes both dealing spread and market spread. The size of our dealing spreads are shown in the information tables. All dealing spreads are subject to variation, especially in volatile market conditions. We will not charge any additional commission unless we notify you in writing.
- For Limited Risk transactions, a Limited Risk premium is charged on the opening.
- The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.
- For most positions, a client can, at any time before the position has been automatically closed, ask for the position to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer him the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains the client's responsibility to give instructions, if he so wishes, to roll the position over before it expires.
- If the 25th calendar day of the previous month is a non-trading day, the last dealing day for Light Crude Oil is the third business day prior to the last business day preceding the 25th calendar day of the previous month.
- Times quoted are local to the relevant exchange.
- Positions not already closed by the client expire automatically with spread on the following basis:
- Light Crude Oil, Heating Oil, Natural Gas and No Lead Gasoline basis the closing price of the relevant futures contract on NYMEX on our last dealing day
- Gas Oil and Carbon Emissions basis the settlement price of the relevant metal on LME on the last dealing day
- Brent Crude Oil basis the IPE Brent Index price for the day following the IG last dealing day
- When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our PureDeal platform.