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Axiory Global, a leading Global Forex Brokerage firm, is all set to enter a new era in oil trading with two brand new products that have been especially designed to combat negative oil prices: the US Oil Index and the UK Oil Index

Last month witnessed a historic crash when, for the first time ever, West Texas Intermediate (WTI) crude oil, May futures contracts, fell below US$0. As a result, because of exceptionally high volatility, Axiory Global sprang into action by disabling trading on WTI and adding Brent Crude Oil to its assets.

The US Oil Index and the UK Oil Index are rebased at US$100, meaning that even if oil prices fall into negative territory, the indices will remain higher than US$ 100. For example, if Brent oil drops to US$ -5, it will be traded under the UK Oil Index at US$95.

Both products are independent tradable instruments, but their price moves are linked to oil price movement + US$100. Their price movement can be analysed in the same way that a trader analyses oil using the same basic and technical indicators to open and close positions.

Roberto d’Ambrosio, Axiory’s CEO, said, “Being an index and not a future means it will have smoother behavior, although we still expect a lot of volatility when this will happen during the settlement, but without the incredible impact it could have if the product was based directly on the future expiring the day that one has to roll it over.”