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ICE Hikes Oil Margins For Second Time In A Week
And now, for the real reason for the oil plunge: the ICE has just announced it is hiking oil margins for the second time this week, this time increasing both Brent and WTI margins. The new Brent applied margin is 5200 compared to 4850 before. We expect the NYMEX will follow suit on its own WTI contract margin hike any minute. As usual, we continue to patiently await the Globex to hike margin requirements on the ES. The most recent update of the ICE Brent Scanning range and Tiering can be found here.
The complete chart of the notable margin hikes by product per the ICE:
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More brazen lies.
http://www.marketwatch.com/story/businesses-shouldnt-worry-about-inflati...
if anyone is up for starting a blythe hate group on Facebook let me know...
www.silvergoldsilver.blogspot.com
facebook, where the faces meet the book.
If you want to see Alex Jones rip into Glen Beck for 15 minutes click here
http://www.infowars.com/the-glenn-beck-secret/
I just bought 90 oz of silver eagles this morning... so the expected plunge in silver was right on time this afternoon! I'm the perfect contra-indicator.
Jeez.......
The imminent $index drop through 76 and then on down to the '09 low of 75 and breaking the 3 year support for a move to the '08 low of 72 will more than make you whole.
This is solid:
http://2.bp.blogspot.com/-2sCrwp9xhcg/TWa-jEuJSmI/AAAAAAAAAG4/zKxZh15ziv...
Turd,
We will see 23/25/00oz again, and 1200-1300 Gold, and thats fine with me, dry power in waiting.
You know they were bought off.
That is what leadership is about these days. The children do not want the truth so they demand that daddy tell them lies. When they've mustered the courage to ingest a little reality they tune in to reality television.
Not at all. Those who are not planning to expand are the one's that need to worry.
All this is very nicely timed to bounce the market at critical levels eh...
rumour, then hike margins when rumour stated unfounded... keep the push going to run any trailing stops on new shorts and push shares higher on squeezed shorts again
Also 'Bama:
http://money.cnn.com/2011/02/24/news/economy/oil_reserve/
is this why OIL is cliff diving? So supply disruption was not the cause of ramp in OIL price?
All fake demand based on the power of leverage
Also 'Bama:
http://money.cnn.com/2011/02/24/news/economy/oil_reserve/
As soon as oil hits $150 per barrel, the US stock market will crash.
This comes straight from the last Bilderberg meeting.
Remember 2008? It peaked at $147 before all hell broke lose.
so is anybody surprised?
The NYMEX and ICE keep moving the fuckin' goal posts
Hmmm do they move them on ES?
ok hike the ball on QE1, no QE2 oh hell wait until I call QE#
There went the backwardation in Silver. Gone.
Crude
Timber!
http://99ercharts.blogspot.com/2011/02/crude_1403.html
http://www.zerohedge.com/forum/99er-charts-0
Looks like the Sears Tower.
You mean "Willis Tower"
"Ben's Erection"?
Fin price fixing bastards..........
why dont the mother fuckers hike margins on stocks....particularly internet stocks.....oh i forgot they want those higher
Get ready for their innovative new "if you pledge stocks as collateral, you can take out new loans to invest in the market" scheme.
And by innovative and new I mean "tried with disastrous results by John Law, but THIS TIME IS DIFFERENT!"
will be interesting to see if G, BAC, JPM, etc have 100% trade success during these kinds of days. It was bull before, but would be even less subtle to announce a 'no loss day' for a quarter now..
pthh.. what a joke.
The bankstas didn't see this coming! They were positioned in the wrong sectors and on the wrong side of the trade!
GS didn't make money on this round of oil futures, guaranteed.
It caught them offguard.
Hence the bankstas calling their dogs to "fix" things again.
Remember, the bankstas are sitting on a shitload of worthless paper.
I'm starting to think that this game is rigged! (Sarcasm)
Waiting for a ES margin hike w/ implied Vol low ~20s? You gotta be kidding me.
ice ice baby
word to your mother
They should have lowered margins to $5 a contract.
They weren't outdated enough.
Fraud of a fucking market
The Gadahfi rumor was put out concurrent with the ICE Hikes. Probably used as cover and to help the Exchange Stabalization Fund pump the market back up so that that the problems you pointed in out in hedge fund margine debt don't start an unstoppable exoduous from all equities.
They are so good at MOPE. I sold a lot of silver just before they nailed it thanks to the article you wrote on the hedge fund margine debt. I'll be waiting to see if the stock market firms up and how gold fairs and looking for the next entry point because silver is going to $50 this year. Its just a question of how soon.
Thanks Tyler
wont help them ... spoos already going lower, and oil moving up.... idiots, just like the goose who has gone "junk" happy.
Wasn't it Geithner who proclaimed yesterday that "Central Banks have ways to deal with the panic of an oil price shock" or something to that extent...??
So, there you go folks. No further proof needed just how manipulated this government cartel centrally planned market really is.
Oh by the way.. the demand for crude and the flight to safety into precious metals goes on despite what the US government thinks it can do to contain the exit out of the Dollar.
Not much difference between the wisdom from Gaddafis "green book" and Tim Geithner's delusions of grandeur.
In the end, it was a nice enough trade until this morning. There had to be profit taking, I thought to myself.
Now where is the real price, how can we discover what the barrel of light sweet crude is really worth in soon to be even worth less American FRNs?
Guess what, the price of possible contagion to the Saudi people has cost the King hansomly. Now he's gotta make up for it as well and what's better than a higher price of oil to accomplish just that?
Besides moderate growth in prices, how has QE 2 been a failure?
Remember all the screaming about Double-Dip? Hindenburg Omen?
Maybe the worst is behind after all. I am not convinced we will see a "Panic" event akin.
to 2008.
For all the Hyper-Inflationist, including Tyler, how do you expect inflation to spiral out-of-control?
wouldn't we need to see an S&P print lower than 500 (massive deflationary collapse) to get out the Helicopter? Like I say, VERY VERY unlikely.
Enjoy your local striking public sector workers, your cuts in the local city police force which will increase crime and your insurance premiums, your increased call-out times for emergency services, your tax increases, and all the while Mad Benny is devaluing your savings and pushing the prices of your groceries up.
But hey, the worst is clearly behind us.
I am a public sector worker... were doing fine. Infact, these people I work with believe in SHARED SACRIFICE unlike your everyday hedge fund HYENA. These are my people!
I am not a millionare like all the rest of you, but I enjoy studying economics in my spare time
I believe in shared sacrifice too. You need to consider your position versus the average taxpayer.
If I were a millionaire, I'd live it up in the Med on my yacht full of Russian whores, and most certainly not posting here.
I prefer the Greek babes myself !
Shemale (Post-OP)... I am bisexual, but favor the former.
Thailand is a great place. Free Markets all around.
doing fine? LMAO. Understatement of the year. "Shared Sacrifice"! LMAO. You may not be a millionare today but your well on the way by raping the middle class.
Absolutely correct. The problem is that the amplitude swings from the median are getting so large that the Fed is overshooting massively in either direction. We will probably see a huge (deflationary) market crash first which will result in an all out money printing and thus USD debasing follow through from the Fed.
highly irratic price discovery
with so much manipulation, so many lies floating around... no wonder the TRUE price of anything is simply KAPUTT.
FYI.. the Korean bank run story has some follow-up. The Westcoast real estate sector is telling stories of a massive number of Korean cash buyers lately.
If you were Korean, living next to a tin pot dictator and you had cash in a bank account.. you too would liquidate and buy real estate on the Northamerican Pacific Rim.
The troll's thesis exactly, with one minor difference. Bennie and I hope these swings moderate throughout the next few years. I hope for everyone's sake bennie succeeds. Some people root for more failure and more suffering.
Housing crash> bank crash> stock market crash> dollar crash.... and burn.
Central Planning and intervention at each step has not been working. The Bernank seems to have made the stock market the last line of defense. I wish it could turn things but it's very hard to be optimistic.
Plan B: Rickards previously suggested a fallback for The Bernank could be to announce open market buying of gold, or other means, to use market discovery as means of de facto gold backing of the dollar at much higher prices to try to pull one out of his ass. It's hard to be optimistic about this too. They refused to revalue gold in 1933 until they confiscated it.
Yes, this I can believe.
If the US Treasury (Not the FED) has secretly been securing Gold reserves to later annouce... THAT WOULD PUT A FLOOR UNDER THE DOLLAR and SAVE us from any doom involving "dollar destruction".
How can I be a "troll" when I like Gold?
But I thought (according to the Chairman) that the price of oil reflected real demand from the growing global economy. If that were the case then a margin hike wouldn't make any difference, speculation is just a small insignifigant part of the price. Isn't it?
Interesting Interactive Brokers connectivity problems timed exactly with Gadaffi rumor and margin hike. Still can't log on.
Tyler,
How can you have a HUGE deflationary crash when QE to infinity is over hangin mkts? It makes no sense.....
What is the world economy, 40 trillion annual gdp?
How much pump priming have we had, a couple trillion?
If real gdp shrinks a few percent and people continue to deleverage and money velocity slows a bit, yeah, we could have deflation but probably no crash.
My opinion on this is that QE was hot until it's not. In other words, the next QE is just another fix to the junkie and will yield less and less satisfaction.
Confusion reigns. St. Louis Fed says they could start selling paper and other Fed says they would continue buying, quasi hinting at QE3.
Which is it?
What if QE= Bluff?
The FED changed the rules, so they don't take losses. Since the balance sheet is already bloated and higher deficits are already LONG priced in, perhaps the next move with be QE bonds along with selling securities in the open-market
When Obama loses the control over the price of oil, he's doomed. He knows it, Ben too.
Maybe there will be another entry point tomorrow, with oil just bellow $95. As they couldn't fix shit so far, they can't play with the price of oil for more than a couple of days.
I've been saying for years that the only voice that can silence the credit-binge nonsense from the fedspeakers is that of Mr. Market, and the probable damage from the Libyan-ME popular revolutions to a world buried under unpayable debt tells me he's getting ready to speak.
This is how Ben and Timmuh intend to 'contain inflation'? Gimme a break.
I shot khaddafi
but I didn't shoot the Chem Ali
Lol, that's funny, but man, seek help!
They can temporarily supress the price but market forces will be victorious and force oil much higher whther they like it or not.
Another idiotic policy move disguising the fact that the markets are being more and more controlled by the TBTF's and central banking cabal. This shit is getting more and more ridiculous. Fuck central banks and fuck the IMF.
to be fair with the price vol exhibited in the last few days it is inevitable that margins would be raised