CME hikes crude oil future NYMEX (CL) margins by 17.6%

Early Friday morning n Asia, news from the Chicago Mercantile Exchange (CME) suggests that the exchange hiked the performance bond deposits on the NYMEX Crude contract by 17.6%. The move will result in the margin requirement to increase to $10,000 and will be effective after the close of business on April 24, 2020.

Market implications

Given the post-settlement period for the WTI, the commodity fails to react to the news while flashing no major changes to $17.10 by the press time.