Commodity Blog |
| Crude Oil Erases Losses After Sandy Passes Posted: 05 Nov 2012 04:08 PM PST Crude oil rose today, erasing earlier losses, as US refineries continue to return to work after Hurricane Sandy has passed. Some refineries remain closed, but will restart their operation in the near future. That will lead to increasing demand for crude. Earlier, oil declined as traders remain worried about Europe, particularly Greece. Uncertainty, that the upcoming presidential election in the United States bring to markets, was also not good for commodities. On top of that, some analysts claim that the impact of Sandy was quite small relatively to the global supply of crude. December futures for delivery of WTI crude oil rose $0.14 (0.16 percent) to $85.79 per barrel on NYMEX today. December contract for Brent crude advanced as much as $2.05 (1.94 percent) to $107.73 per barrel on ICE. |
| You are subscribed to email updates from Commodity Blog To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment