CME Group has announced a hike in the margin required to hold WTI crude oil contracts effective as of the close of business today (Friday).
Those of you holding crude oil contracts should take note. The same holds true for heating oil and gasoline contracts. This is standard practice whenever price volatility increases.
For West Texas Intermediate crude on the New York Mercantile Exchange, CME is raising initial margin requirements, or the deposit required to purchase a
contract, for speculators to $6,775 per contract, up from $6,075. Maintenance
margin requirements, or the additional deposit required for keeping a contract
overnight, increase to $5,000 from $4,500.
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