DOW JONES-NEW YORK, Dec 27 (Reuters) - Oil prices jumped more than $1 on Tuesday after Iran threatened to cut off a key oil shipping route through the Strait of Hormuz, while world stocks were little changed as a four-day Wall Street rally stalled.
The euro was stuck near an 11-month low as investors feared thin market liquidity could complicate Italy's plans to raise 8.5 billion euros in capital markets later in the week, renewing pressure on the euro zone.
The Dow Jones industrial average <.DJI> dipped 2.65 points, or 0.02 percent, to 12,291.35, while the Standard & Poor's 500 Index <.SPX> ended up 0.10 point, or 0.01 percent, at 1,265.43. The Nasdaq Composite Index <.IXIC> rose 6.56 points, or 0.25 percent, at 2,625.20.
NYMEX-NEW YORK, Dec 27 (Reuters) - U.S. crude futures rose for a sixth straight session on Tuesday as Iran's threat to stop oil from moving through the Strait of Hormuz if sanctions on Tehran's oil sales are imposed added to concerns about potential threats to the supply in the region.
Iran's first vice-president warned that the flow of oil through the Gulf strait would be stopped if foreign sanctions are imposed on Iran's oil exports.
On the New York Mercantile Exchange, February crude
CBOT-SOYBEAN, Chicago Board of Trade soybean futures surged 2.9 percent, their biggest gain since mid-October, on concerns that dry weather could limit the size of this year's harvest in Argentina and Brazil, traders said.
The market notched its eighth straight day of gains, the longest since July 2010. During the streak, soybean prices have risen 8.8 percent.
Dry weather has been a concern in Argentina for three weeks and there appears to be no relief from the dryness for at least 10 days. Hotter weather is expected next week as well. Some of the early-planted corn crop is in its critical pollinating stage of development and soybeans are about two weeks away from flowering.
FCPO-KUALA LUMPUR, Dec 27 (Reuters) - Malaysian crude palm oil futures dropped on Tuesday as slowing exports hurt sentiment, while a 6 percent rally last week gave traders an excuse to book profits as well.
Palm oil has lost more than 16 percent so far this year and is set to post its first annual decline since 2008 as the euro zone debt crisis continues to fester and raise fears of slowing global economic growth.
Benchmark March palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange settled down 0.4 percent at 3,159 ringgit ($1,000) per tonne.
REGIONAL EQUITIES-BANGKOK, Dec 27 (Reuters) - Most Southeast Asian stock markets fell in lacklustre holiday trade on Tuesday amid easing sentiment in the rest of Asia and some selling in recent gainers like financials and commodities-related shares.
Asian shares eased on Tuesday as investors squared positions in thin volume before U.S. markets reopen after a long weekend and investors see fresh data that could offer clues about prospects for the world's largest economy.
