Gasoline Gains as Storm Seen Delaying Northeast Supply Recovery
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Gasoline gained as a coastal storm that brought snow and flooding to East Coast areas recovering from Hurricane Sandy may delay fuel imports.
Futures rose as the nor’easter pushed a band of snow into the states around New York City, an area with persistent power outages since Sandy’s Oct. 29 landfall near Atlantic City, New Jersey. Four tankers carrying gasoline and four transporting naphtha were scheduled to arrive in New York Harbor over the next few days, according to the U.S. Coast Guard yesterday.