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.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3533-0.0001-0.01%
    USDSGD=X
    1.4998+0.0043+0.29%
    EURSGD=X
    1.7779-0.0088-0.49%
    GBPSGD=X
    77.5060-0.277-0.36%
    SGDJPY=X
    5.7297+0.0003+0.01%
    SGDHKD=X
    2.9913-0.0215-0.71%
    SGDMYR=X
    9,683.2568-31.9629-0.33%
    SGDIDR=X
    4.9164-0.0109-0.22%
    SGDCNY=X
    1.0156+0.0023+0.23%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,340.20+5.70+0.43%
    GCZ16.CMX
    20.21+0.21+1.08%
    SIU16.CMX
    106.13-1.45-1.35%
    ^XAU
    2.21+0.03+1.21%
    HGU16.CMX
    41.30-0.62-1.48%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.100.00
    ^FVX
    1.510.00
    ^TNX
    2.230.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.36-0.01-4.00%
    E5H.SI
    0.51+0.02+5.15%
    5TP.SI
    0.315-0.030-8.70%
    5ME.SI
    0.166-0.003-1.78%
    N21.SI
    4.29-0.02-0.46%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.255+0.064+33.51%
    AZT.SI
    0.29+0.03+9.43%
    S71.SI
    0.235+0.020+9.30%
    S46.SI
    0.195+0.016+8.94%
    P36.SI
    0.955+0.075+8.52%
    5HJ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.093-0.037-28.46%
    42D.SI
    0.215-0.065-23.21%
    BQN.SI
    0.103-0.030-22.56%
    BEZ.SI
    0.26-0.06-18.75%
    5UL.SI
    0.295-0.040-11.94%
    BBP.SI