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Tuesday, May 10, 2011

The impact of the margin hike on oil prices may

The impact of the margin hike on oil prices may : Oil prices fell as much as 2 percent in Asia after the CME Group hiked trading margins for U.S. crude futures following a volatile week of trading that saw U.S. crude prices fall from over $114 a barrel -- the highest level since 2008 -- to $94 a barrel.

NYMEX crude for June tumbled $1.48 to $101.07 a barrel by 4:00 a.m. British time, erasing nearly a third of a 5 percent rebound on Monday, while Brent crude fell $1.35 to $114.55 a barrel.

The impact of the margin hike on oil prices may be less severe than on silver, which fell more than 30 percent in late April due to a succession of margin hikes, forerunning a sell-off in other commodities.

Silver on Tuesday extended its recovery into a third day. COMEX silver climbed as high as $37.90, easing to $37.69 by 4:05 a.m. British time, up nearly 7 percent from last week's close, but still well off its recent closing high above $48 an ounce. Spot gold edged down 0.2 percent to $1,509.65 an ounce. For the latest updates PRESS CTR + D or visit Stock Market news Today

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