Earlier I told you the CME hiked margin requirements on crude contracts, that goes into effect after trading today is closed. the thing I'm not sure about is whether those become retroactive to open positions. If so, that would explain the profit taking in Crude, traders would need to raise cash to meet the extra margin requirement.
the other possibility is that since ICE hiked margin on oil and now CME has done so also, traders may feel that the upside is a little more limited now, after all, that is the intension of hiking the margin requirements.
By the way, the hike is an extra 10%
5 years ago
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