Gas Rises as Fears Over Supply Mount

Bloomberg reported that gas rose based on fears that supplies may be limited on the east coast, in the wake of Hurricane Sandy.

As quoted in the market report:

Futures climbed a second day as Phillips’s 238,000-barrel- a-day Bayway plant, which supplies gasoline to the New York Harbor market, remains shut to repair equipment damaged by flooding. U.S. gasoline inventories probably fell 1.5 million barrels in the week ended Nov. 2, according to the median estimate of 10 analysts in a Bloomberg survey.

To view the whole Bloomberg report, click here.