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Weekend vs weekday interest rate Brent oil

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Hi, first time here.

I bought Brent oil in Australian dollars. I just noticed the different interest rate btw weekdays and weekends.

On weekdays, I was getting +$3.6/day. Then on Monday, my statement says,

"Daily Commodities Interest for 3 day Oil - Brent Crude (A$1) -$0.06"

Does anyone know why it goes negative during weekend?

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13 hours ago, BENTinAUD said:

Hi, first time here.

I bought Brent oil in Australian dollars. I just noticed the different interest rate btw weekdays and weekends.

On weekdays, I was getting +$3.6/day. Then on Monday, my statement says,

"Daily Commodities Interest for 3 day Oil - Brent Crude (A$1) -$0.06"

Does anyone know why it goes negative during weekend?

Thanks for your first post 🙂

You can get debits or credits with overnight funding depending on the adjustment. The best explanation is on our website. You can also find examples too:  https://www.ig.com/au/commodities

 

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I hope this helps. If you need anything else '@' me 

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