Gaza ceasefire limits Asian oil gains

Crude price rises were limited in Asian trade Thursday after a ceasefire ended a week of cross-border violence between Israel and Palestinian militants that left at least 160 people dead.

New York's main contract, light sweet crude for delivery in January, added 21 cents to $87.59 a barrel in the afternoon and Brent North Sea crude for January delivery advanced two cents to $110.88.

The Gaza ceasefire came into effect at 1900 GMT Wednesday and halted eight days of conflict between Israel and Hamas.

"A truce... eased concerns that a week of intensive Israeli fire on the Gaza Strip and militant rocket attacks out of the enclave could widen, engulfing regional oil exporters," Phillip Futures said in a report.

US jobs numbers helped boost prices, analysts said.

"Markets lifted... on better-than-expected jobs numbers out of the US," IG Markets said in a report.

Despite a disclaimer that numbers were distorted by the effects of Superstorm Sandy, traders still found cheer when official figures showed US jobless claims falling to 410,000 last week.

That marked a nine percent decline from the previous week's upwardly revised number of 451,000. Analysts on average had estimated claims in the world's largest economy and oil consumer would drop to 423,000.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3766+0.0058+0.42%
    USDSGD=X
    1.5094+0.0042+0.28%
    EURSGD=X
    2.1459+0.0035+0.17%
    GBPSGD=X
    90.2035-0.1708-0.19%
    SGDJPY=X
    5.6320-0.023-0.41%
    SGDHKD=X
    2.7968+0.0081+0.29%
    SGDMYR=X
    9,804.5352-51.0381-0.52%
    SGDIDR=X
    4.5108-0.019-0.42%
    SGDCNY=X
    1.0016-0.0007-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,089.00-5.90-0.54%
    GCQ15.CMX
    14.69-0.10-0.66%
    SIZ15.CMX
    47.57
    ^XAU
    2.34-0.02-0.99%
    HGU15.CMX
    46.54-0.99-2.08%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56
    ^FVX
    2.20
    ^TNX
    2.92
    ^TYX

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    Most Actives
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    0.47+0.01+3.30%
    N21.SI
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    MC0.SI
    0.310.00-1.59%
    E5H.SI
    0.310.00-1.59%
    5WA.SI
    0.123-0.011-8.21%
    5DN.SI
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    % Gainers
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    0.46+0.07+17.95%
    AZZ.SI
    0.27+0.04+17.39%
    5WR.SI
    0.199+0.029+17.06%
    D79.SI
    1.25+0.16+14.68%
    AXL.SI
    0.565+0.070+14.14%
    AWZ.SI
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    5MC.SI
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    BBQ.SI
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    5I0.SI