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Oil Takes Small Turn and Rises From Lowest Level Since July
Oct. 30, 2012 08:58AM PST
Resource InvestingOil took a turn and rose from the lowest level in almost four months in New York on speculation that demand will soon rebound after Atlantic superstorm Sandy made landfall on the U.S. East Coast.
Oil took a turn and rose from the lowest level in almost four months in New York on speculation that demand will soon rebound after Atlantic superstorm Sandy made landfall on the U.S. East Coast.
As quoted in Bloomberg article:
Most of the refineries should soon be back to normal operations, which will increase demand for crude. It also looks like the storm will have a relatively small impact on fuel demand.