US Crude Falls to $101 on CME Price Hike

9 May 2011 (Last Updated May 9th, 2011 18:30)

US crude fell to $101 a barrel today, following CME Group's 25% rise in trading margins for US crude futures. US crude dipped by $1.55 to stand at $101 a barrel, while Brent crude fell $1.38 to $114.52 a barrel, reports Reuters. CME raised margins for crude oil futures on the

US crude fell to $101 a barrel today, following CME Group’s 25% rise in trading margins for US crude futures.

US crude dipped by $1.55 to stand at $101 a barrel, while Brent crude fell $1.38 to $114.52 a barrel, reports Reuters.

CME raised margins for crude oil futures on the New York Mercantile Exchange by $1,250 per contract.

CME’s decision follows a week where US crude oil prices fell from over $114 a barrel to $94 a barrel.