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
    1.3967-0.0095-0.68%
    USDSGD=X
    1.5805+0.0059+0.38%
    EURSGD=X
    2.0234-0.0052-0.26%
    GBPSGD=X
    82.2007-0.00020.00%
    SGDJPY=X
    5.5818+0.041+0.74%
    SGDHKD=X
    2.9815+0.0029+0.10%
    SGDMYR=X
    9,729.9736-19.3662-0.20%
    SGDIDR=X
    4.7057+0.0307+0.66%
    SGDCNY=X
    0.9889-0.007-0.70%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,197.20-0.70-0.06%
    GCJ16.CMX
    15.44+0.02+0.12%
    SIH16.CMX
    57.10+0.32+0.57%
    ^XAU
    2.03-0.06-2.73%
    HGH16.CMX
    29.08-0.61-2.05%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.150.00
    ^FVX
    1.740.00
    ^TNX
    2.57+0.01
    ^TYX

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    Most Actives
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    N21.SI
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    Z74.SI
    1.68+0.05+3.07%
    MC0.SI
    0.385+0.010+2.67%
    E5H.SI
    0.705+0.025+3.68%
    G13.SI
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    0.405+0.065+19.12%
    T4B.SI
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    Y06.SI
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    S9B.SI
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    BJE.SI
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    AWS.SI
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    AWO.SI
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