Oil up in Asia as traders eye US fiscal cliff talks

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Oil up in Asia as traders eye US fiscal cliff talks

SINGAPORE : Oil prices were up in post-Christmas Asian trade Wednesday as traders warily eyed the soon-to-resume US budget talks on a deal to avert the fiscal cliff, analysts said.



New York’s main contract, light sweet crude for delivery in February rose 39 cents to $89.00 a barrel in the afternoon and Brent North Sea crude for February gained 50 cents to $109.30. US budget discussions were once again the “main focus of attention”, said Jason Hughes, head of premium client management for IG Markets Singapore.

 

Courtesy:  Nation


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