Oil Slides, Gasoline Gains as Hurricane Sandy Nears U.S.
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Crude fell for the first time in three days in New York while gasoline rose as refineries curbed operations before Hurricane Sandy strikes the U.S. East Coast.
West Texas Intermediate futures slid as much as 1.1 percent, while prices of the motor fuel advanced as much as 1.9 percent. Sandy will probably make landfall tomorrow, according to a National Hurricane Center advisory. Phillips 66, NuStar Energy LP and Hess Corp. said they are shutting or reducing output at New Jersey refineries as a precaution against the storm that may become the worst to hit the region in 100 years.