Today CL (oil) is up 8.7% and Int.brokers margin to open a position is 8400$ per ct. vs ES which is up 1.8% and the margin is 32739$. This is way out of the line. No mathematical formula can justify that. Is the IBrokers ( and E-trade,CSchwab,Ameritrade etc) the retail side vs. all big institutional money (Goldman, MStanley,banks etc), and that is the reason for LARGE futures margins ?
please dont focus the attention on CL or tomorrow they will change the margin ( and of course for the volatile recent market and because the margine is calculated with risk assesment system )