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
    1.2562+0.0008+0.06%
    USDSGD=X
    1.7364+0.0016+0.09%
    EURSGD=X
    2.1088+0.0022+0.10%
    GBPSGD=X
    81.4207-0.2531-0.31%
    SGDJPY=X
    6.1722-0.0034-0.05%
    SGDHKD=X
    2.5981-0.0031-0.12%
    SGDMYR=X
    9,258.5967-41.0879-0.44%
    SGDIDR=X
    4.9661-0.0026-0.05%
    SGDCNY=X
    1.1671+0.0012+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,287.00+2.40+0.19%
    GCM14.CMX
    19.46+0.02+0.11%
    SIK14.CMX
    92.88+1.82+2.00%
    ^XAU
    3.07+0.01+0.28%
    HGK14.CMX
    101.65+0.21+0.21%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71-0.03
    ^FVX
    2.69-0.04
    ^TNX
    3.47-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.152+0.010+7.04%
    545.SI
    0.121-0.001-0.82%
    B22.SI
    0.151+0.007+4.86%
    C68.SI
    0.635+0.040+6.72%
    5WH.SI
    1.350.0000.00%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    18.50+2.700+17.09%
    K6S.SI
    0.17+0.012+7.59%
    5PF.SI
    1.305+0.090+7.41%
    5DA.SI
    0.15+0.010+7.14%
    5GD.SI
    0.635+0.040+6.72%
    5WH.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.61-0.530-24.77%
    N02.SI
    0.123-0.008-6.11%
    S71.SI
    0.235-0.015-6.00%
    L6T.SI
    1.32-0.050-3.65%
    S35.SI