FTX Crypto Derivatives Exchange Launches Oil Futures

written by

FTX oil futures

Support free journalists: > send a tip

  • Amid the ongoing oil frenzy, FTX oil futures has launched

FTX, which is an increasingly popular crypto derivatives exchange that offers up to 101X leverage, has launched oil futures. The FTX oil futures contracts expire at the spot price of West Texas Intermediate (WTI), which is the most popular type of oil in the United States. Notably, FTX has added USD 100 on to the WTI spot price, to prevent FTX oil futures from going negative.

Indeed, for the first time in history oil prices went negative this week, meaning that there was too much oil and nowhere to store it, so oil producers were paying people to take oil away. WTI futures went as low as negative USD 40.

These unprecedented negative oil prices are why FTX is launching oil futures now since speculators worldwide want to buy up oil at these ridiculously low prices.

Zooming out, now that a crypto derivatives exchange has oil futures, traders will be able to trade between the crypto and oil markets, which could lead to interesting new trading strategies.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

Help spread this article :)


Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter