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.

--

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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1720.0000.00%
    N21.SI
    0.850.00-0.58%
    Y92.SI
    0.4150.0000.00%
    5ME.SI
    0.180.00-1.10%
    40E.SI
    2.62-0.01-0.38%
    MC0.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.27+0.04+17.39%
    PH0.SI
    0.275+0.035+14.58%
    BLZ.SI
    0.162+0.012+8.00%
    5MQ.SI
    0.225+0.015+7.14%
    S46.SI
    0.25+0.02+6.38%
    BTM.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.10-22.73%
    AWC.SI
    0.375-0.095-20.21%
    BLL.SI
    0.09-0.01-11.76%
    BRR.SI
    0.585-0.065-10.00%
    BKB.SI
    0.63-0.07-10.00%
    AWZ.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4188-0.0058-0.41%
    USDSGD=X
    1.5244+0.0024+0.16%
    EURSGD=X
    1.7736+0.0145+0.82%
    GBPSGD=X
    79.7060-0.461-0.58%
    SGDJPY=X
    5.4654+0.0264+0.49%
    SGDHKD=X
    3.1276+0.0097+0.31%
    SGDMYR=X
    9,415.4912-21.2539-0.23%
    SGDIDR=X
    4.8283+0.0074+0.15%
    SGDCNY=X
    1.0743-0.0016-0.15%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,215.00+10.10+0.84%
    GCG17.CMX
    17.18+0.15+0.87%
    SIH17.CMX
    91.20+2.52+2.84%
    ^XAU
    2.64+0.02+0.74%
    HGH17.CMX
    52.33+0.96+1.87%
    CLG17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.87-0.07
    ^FVX
    2.40-0.06
    ^TNX
    2.99-0.06
    ^TYX