Oil Trades Near Four-Month Low as Sandy Shuts Refineries
This article is for subscribers only.
Oil rose from a four-month low in New York as better-than-expected company earnings bolstered confidence that economic recovery will support fuel demand.
West Texas Intermediate crude climbed as much as 0.8 percent as European equities advanced after results from BP Plc and Deutsche Bank AG beat analyst estimates. Prices fell earlier after Phillips 66, Hess Corp., NuStar Energy LP and PBF Energy Inc. reduced refinery operations on the U.S. East Coast because of Atlantic storm Sandy. Gasoline dropped from a two-week high.