Crude rises on US fiscal cliff deal

Oil prices rose in Asia on Wednesday as traders cheered the passing of a US deal to avoid a "fiscal cliff" of tax hikes and huge spending cuts, analysts said.

New York's main contract, light sweet crude for delivery in February, added 84 cents to $92.66 a barrel in the afternoon and Brent North Sea crude for February delivery gained 66 cents to $111.77.

Markets "took heart from a cobbled-together deal", a report from IG Markets said.

The bill, which had already passed through the Democrat-majority US Senate, was approved by the Republican-led House of Representatives in a 257-167 vote.

US President Barack Obama said the long-awaited resolution made the country's tax system a fairer one.

"Hopefully in the New Year we'll focus on... seeing if we can put a package like this together with a little bit less drama, a little bit less brinksmanship, not scare the heck out of folks quite as much," he added.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3625-0.003-0.22%
    USDSGD=X
    1.5231-0.0039-0.26%
    EURSGD=X
    2.0928-0.0048-0.23%
    GBPSGD=X
    87.8296-0.1638-0.19%
    SGDJPY=X
    5.6920+0.0125+0.22%
    SGDHKD=X
    2.6595+0.0004+0.01%
    SGDMYR=X
    9,530.1016+12.6982+0.13%
    SGDIDR=X
    4.6062+0.0122+0.26%
    SGDCNY=X
    1.0666+0.0069+0.65%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    73.81-1.45-1.93%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61+0.04
    ^FVX
    2.12+0.04
    ^TNX
    2.71+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.415+0.015+3.75%
    E5H.SI
    100.012-0.0020.00%
    41H.SI
    1.01+0.06+6.88%
    N21.SI
    0.06-0.06-48.72%
    F3V.SI
    0.280.000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.03+15.79%
    5RE.SI
    0.167+0.021+14.38%
    5OU.SI
    0.18+0.02+12.50%
    PH0.SI
    0.114+0.008+7.55%
    G31.SI
    0.179+0.012+7.19%
    T19.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.06-0.06-48.72%
    F3V.SI
    0.19-0.06-22.45%
    5TS.SI
    0.141-0.019-11.87%
    C3T.SI
    0.157-0.018-10.29%
    K6J.SI
    0.30-0.03-9.09%
    5VI.SI