Gasoline and Oil Market Update

Nymex reformulated gasoline blendstock for January RBF5, -0.95%   — the benchmark gasoline contract — rose nearly 4 cents, or 2.3%, to $1.57 a gallon.

Heating oil for January HOF5, -0.34%  rose 4 cents, or 2%, to settle at $1.99 a gallon, while natural gas for the same month NGF15, -0.76%   gained nearly 3 cents, or 0.9%, to settle at $3.17 per million British thermal unit.

Oil rises 3.4% as some OPEC members forecast rebound

Crude-oil futures rose on Tuesday, getting an extra lift from strong U.S. economic growth and after some Arab members of the Organization of the Petroleum Exporting Countries said they see a rebound to $70 to $80 a barrel next year.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, -0.63% settled up $1.86, or 3.4%, at $57.12 a barrel. The contract hit a settlement low of $54.36 last Thursday.

February Brent LCOG5, -0.68% crude on London’s ICE Futures exchange was up 28 cents, or 0.5%, at $61.97 a barrel.

Gold slips to $1,178 an ounce after GDP data

Gold futures slipped in thinly-traded holiday action on Tuesday as solid U.S. growth data pushed the greenback higher and made dollar-denominated commodities more expensive for foreign buyers.

Gold for February delivery GCG5, +0.06%  declined $1.80, or 0.2%, to settle at $1,178.00 an ounce on the Comex division of the New York Mercantile Exchange. For the week, gold is down $18 an ounce, or 1.5%.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) up 1.1% 

 Hong Kong (Hang Seng Index) up 0.1% (closed) 

 Shanghai (Shanghai Composite Index) down 1.9% 

 Sydney (S&P/ASX 200) up 0.3% 

 Seoul (Kospi) up 0.3% 

 Mumbai (Sensex) flat 

 Taipei (Taiex) up 0.8%

Asian Market Update

Asian markets rose on Wednesday, supported by record gains in US share markets after stellar growth figures from the world's top economy.

Tokyo opened 1.17 per cent higher, Hong Kong added 0.15 per cent, Seoul gained 0.38 and Sydney rose 0.22 per cent in morning trade.

Shanghai rebounded slightly after a three per cent drop the previous day, edging up 0.22 per cent.

Trade was thin ahead of the Christmas holiday, with half days in Hong Kong and Australia's financial markets.