Oil Slips From One Month High, CME Hikes Margins

WTI Crude oil futures are trading mixed today after falling from a one month high yesterday as the undertone in the global equity markets remains stressed on continued worries on global trade. Firmness in US dollar and an uncertain undertone in commodities is also keeping a tab on Crude oil. Traders also noted the increase in margins on the commodity by the Chicago Mercantile Exchange (CME). The major global exchange has raised NYMEX crude oil future margins effective June 26, 2018. The margin for August 2018 contract has been raised to $ 2750 per contract from $ 2550. The exchange also raised gasoline futures maintenance margins for September to $ 3200 per contract from USD3100 earlier. The WTI Crude oil futures are currently trading at $ 68.20 per barrel, up marginally on the day. MCX Crude oil futures are currently trading at Rs 4657 per barrel, almost unchanged on the day.