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Crude oil overnight interes

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How are these calculated?

i have been charged aprrox AUD$155 over night for a 5 positions (AUD 1) 

that is steep, add to nearly 55K Per Annum.

is that correct or is something wrong ??

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Guest Nirmal

Anyone has looked into the overnight funding costs properly?  I don't think the way the trading houses have charged the hefty overnight rates is treating customers fairly, especially for those who were holding a position before the April crash.  I am mounting a challenge to this and will welcome feedback.  Just to be clear I am referring to people who had opened their position in March or beginning of April and held that position after 21 April 20.

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Guest Nirma

Anyone has looked into the overnight funding costs properly?  I don't think the way the trading houses have charged the hefty overnight rates is treating customers fairly, especially for those who were holding a position before the April crash.  I am mounting a challenge to this and will welcome feedback.  Just to be clear I am referring to people who had opened their position in March or beginning of April and held that position after 21 April 20.

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