Oil Rises Most in a Month on Fuel Supply Concern
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Crude rose the most in a month on forecasts that U.S. gasoline supplies dropped after Hurricane Sandy forced the shutdown of East Coast refineries and as Americans went to the polls to pick a president.
Futures climbed to a two-week high after a Bloomberg survey showed supplies of the motor fuel probably decreased 1.5 million barrels last week. Hess Corp. and Phillips 66’s New Jersey refineries remained shut after Sandy. U.S. voters decide today whether to return Barack Obama, a Democrat, as president or elect his challenger, Mitt Romney, a Republican.