Tuesday, 30 October 2012 18:47

Sandy Sends Crude Oil Prices

The economic effects are already being felt, particularly in the energy sector. 
As of Monday morning, two-thirds of the East Coast’s total refining capacity (1.2 million barrels per day) was scheduled to be shut down. 

The price of West Texas Intermediate was $85.89, down 39¢, in electronic trading on the New York Mercantile Exchange.  
While in London, Brent Crude was up 11¢, to $109.66 a barrel. 
Source: Bloomberg Businessweek