Crude Futures Trade Near Four-Month Low Before U.S. Elections
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Oil traded close to a four-month low in New York before presidential elections in the U.S., the world’s largest crude consumer, while fuel shipments resumed on the East Coast after Hurricane Sandy.
West Texas Intermediate futures were little changed as fifteen tankers, including two crude carriers, will arrive this week in New York Harbor, according to the U.S. Coast Guard. Phillips 66 said it will resume operations in two to three weeks at its Bayway refinery in New Jersey. U.S. voters decide today whether to return Barack Obama as president or elect his challenger Mitt Romney.