NYMEX to raise margins for heating oil futures

NEW YORK, March 14 (Reuters) - The New York Mercantile Exchange on Friday said it will raise margins for heating oil and related contracts beginning at the close of business on Monday.

The announcement to raise margins -- money or collateral put up by an investor to insure against any adverse price movements -- came as NYMEX heating oil futures rose to a record $3.222 a gallon on Friday, the highest price for heating oil since NYMEX launched the contract in 1978.

Margins for the first month of the heating oil, New York Harbor heating oil calendar swap and heating oil financial futures contracts will increase to $7,000 from $6,500 for clearing members, to $7,700 from $7,150 for members, and to $9,450 from $8,775 for customers, NYMEX said in a release.

Margins for the second to eighth months will increase to $6,500 from $6,000 for clearing members, to $7,150 from $6,600 for members, and to $8,775 from $8,100 for customers.

Margins for the ninth through 12th months will increase to $5,250 from $5,000 for clearing members, to $5,775 from $5,500 for members, and to $7,088 from $6,750 for customers.

The margins for all other months will increase to $4,500 from $4,250 for clearing members, to $4,950 from $4,675 for members, and to $6,075 from $5,738 for customers.

Margins for the first month of the NYMEX miNY heating oil futures contract will increase to $3,500 from $3,250 for clearing members, to $3,850 from $3,575 for members, and to $4,725 from $4,388 for customers.

Margins for the second to eighth months will increase to $3,250 from $3,000 for clearing members, to $3,575 from $3,300 for members, and to $4,388 from $4,050 for customers.

Margins for ninth through 12th months will increase to $2,625 from $2,500 for clearing members, to $2,888 from $2,750 for members, and to $3,544 from $3,375 for customers.

Margins for all other months will increase to $2,250 from $2,125 for clearing members, to $2,475 from $2,338 for members, and to $3,038 from $2,869 for customers. (Reporting by Gene Ramos; Editing by David Gregorio)