The Chicago Stock Exchange Has Substantially Increased Its Trading Margin &Nbsp; The Oil Price Rebound Has Been Halted.

In May 9th, American exchange operators.

Great risk control

In May 9th, the New York commodity exchange (NYMEX) crude oil futures rebounded strongly during the trading session in New York. The main contract rose to 5.53% above the $102 per barrel in June, but when the market was immersed in the joy of rebound, it was spilt with cold water by the local regulators.

In May 9th, the CME group said that the initial margin requirement for each contract for the benchmark crude oil futures of the New York Mercantile Exchange (NYMEX) was raised to $8438 from the previous 6750 US dollars in May 10th.

This is the first time since March 4th that the margin of crude oil futures contracts has been raised.

At the same time, the London International Petroleum Exchange's benchmark Brent crude oil futures contract margin requirements will be raised by 23.8%, and the margin requirement of the New York commodity exchange RBOB gasoline futures contract will also rise by 17.3%.

After the announcement, oil prices fell.

In May 10th, in the Asian electronic trading session, the NYMEX crude oil futures contract in June dropped more than 2 US dollars, the lowest to 100.12 dollars per barrel.

Zhao Liang, an analyst at Haitong futures, told an international financial daily reporter: "raising the margin requirement for crude oil futures is not unexpected. CME group has raised the margin of silver five times, which is only a systematic risk control behavior."

Yue Peng, a financial analyst at China Eastern Airlines, said: "this time

Speculative funds can not afford to hurt.

Market participants say that raising the margin is actually a good policy.

Yue Peng believes that at least in the short term to play a suppressing role in speculative capital.

Market participants also believe that the oil slump has caused many speculative funds to be hit, and the increase in margin will further curb speculation.

In the week of from May 2nd to 6th, the international oil price dropped by 15%, and the price level returned to a lower level in the middle of January 2011.

According to media reports, many hedge funds have suffered from the decline of crude oil.

Clive capital, the world's largest commodity hedge fund, was caught unprepared by international crude dives.

The fund suffered a loss of about US $400 million last week, and its asset size has shrunk to 8.9%.

This is one of the largest single week losses in the global hedge fund market.

Clive capital management is still at a loss as to what causes the oil market to "fail".

The US Commodity Futures Trading Commission (CFTC) report showed that in the week ending May 3rd, the global net management fund, including hedge funds, had a 1.3% decline in the US net crude oil market position.

Zhao Liang said crude oil slump last week is a process of releasing risks, and many speculative funds have been cleared out of the market.

Crude oil rises to catch breath

For the future trend of crude oil, many analysts believe that crude oil futures will not immediately resume rising.

"This adjustment will last for about a month."

Zhao Liang predicted that Brent crude oil futures will range from $105 to $120, while New York crude will be less than $10 lower than that of Brent crude under the strict supervision.

Yue Peng also said that oil prices will still be contended at $100 a barrel, and short-term shocks will intensify.

However, the market does not think that the crude oil's growth path is interrupted. On the contrary, the amendment may be more conducive to the long-term trend of crude oil going well.

"We are still optimistic about the future price of crude oil, for the long term funds, the previous fall provides a very good layout opportunity."

Yue Peng pointed out.

Zhao Liang pointed out that the decline in crude oil was mainly affected by financial attributes. But in the medium to long term, crude oil has not changed much as a commodity, and the long-term relationship between supply and demand is still tight.

Many more people remain optimistic. Jim Rogers, a well-known commodity giant, also said on television that oil prices may continue to rise as global oil reserves are decreasing.

At the same time, Goldman Sachs also pointed out that crude oil supply and demand is tight in the long run, and oil prices are expected to return to or even exceed the recent high of nearly $115 a barrel by 2012.