Crude down in Asia on profit-taking

Crude fell in Asia Wednesday as traders took profits following the previous day's rally while US President Barack Obama's re-election victory did little to move prices, analysts said.

New York's main contract, light sweet crude for delivery in December, fell 39 cents to $88.32 a barrel in the afternoon and Brent North Sea crude for December delivery shed 51 cents to $110.56.

Crude traders were engaging in "some profit-taking after the highs yesterday," said Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore.

"US oil futures surged ahead quite a bit (Tuesday) ... and so we see some pullback this morning," he told AFP.

Shum added that crude markets had "reacted neutrally" to news of Obama's re-election.

Obama won his second election against Republican challenger Mitt Romney despite a slow economic recovery and the high unemployment that has haunted his first term.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3461-0.0002-0.02%
    USDSGD=X
    1.4545-0.0003-0.02%
    EURSGD=X
    2.0117-0.0004-0.02%
    GBPSGD=X
    88.3437-0.00220.00%
    SGDJPY=X
    5.7589+0.0009+0.02%
    SGDHKD=X
    2.6986+0.0005+0.02%
    SGDMYR=X
    9,534.5762+1.748+0.02%
    SGDIDR=X
    4.6030+0.0009+0.02%
    SGDCNY=X
    1.0477-0.0002-0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,204.10+5.80+0.48%
    GCQ15.CMX
    16.23-0.06-0.36%
    SIK15.CMX
    70.95+0.05+0.07%
    ^XAU
    2.77+0.01+0.22%
    HGK15.CMX
    57.73-0.38-0.65%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.290.00
    ^FVX
    1.85-0.03
    ^TNX
    2.50-0.05
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2350.0000.00%
    5GB.SI
    0.290.000.00%
    5WA.SI
    0.199+0.001+0.51%
    5OU.SI
    0.205+0.024+13.26%
    B0Z.SI
    0.885+0.010+1.14%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.205+0.024+13.26%
    B0Z.SI
    0.117+0.013+12.50%
    41S.SI
    0.78+0.08+11.43%
    AUE.SI
    0.49+0.05+11.36%
    UV1.SI
    0.199+0.018+9.94%
    K22.SI
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    % Losers
    NamePriceChange% Chg
    0.141-0.023-14.02%
    5RC.SI
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    5TS.SI
    0.139-0.016-10.32%
    5MD.SI
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    ACW.SI
    0.105-0.010-8.70%
    J8O.SI