The New York Mercantile Exchange (NYMEX) and the IntercontinentalExchange (ICE) have raised the margin requirement on oil future, Bloomberg reports. NYMEX will raise the margins for hedgers and members from $3,750 to $4,500, while for speculators it will increase the margin to $6,075 per contract from $5,063.
The last time NYMEX changed its margin requirement was on April 23, when it cut rates. ICE will boost the margins on Brent crude futures LCOc1 to $5,200 from $4,850, a 7% increase, adds Reuters.
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