Nymex To Increase Margins On Crude Oil And Petroleum Product Contracts

The New York Mercantile Exchange will raise the margins on its crude oil, unleaded gasoline, and heating oil futures contracts as of the close of business today to $2,500 from $2,000 for clearing members; to $2,750 from $2,200 for members; and to $3,375 from $2,700 for customers. The margin credit for spreads between the Exchange's light, sweet crude oil futures contract and the International Petroleum Exchange Brent crude oil futures contract will also be raised to $2,000 from $1,500 for clearing members; to $2,200 from $1,650 for members; and to $2,700 from $2,025 for customers.