MW:Oil futures up for second day in Sandy’s wake
By Robert Daniel, MarketWatch
TEL AVIV (MarketWatch) — Crude-oil futures, and energy prices broadly, rose on Wednesday as much of the U.S. East Coast began digging out from under the massive damage caused by super storm Sandy and traders assessed the impact of the storm on energy supplies.
Crude oil for December delivery CLZ2 +0.90% was up for a second day, rising 77 cents, or 0.9%, to $86.45 a barrel.
CME Group said in a statement on its website that the Nymex headquarters and trading floor will be open on Wednesday and that trading will be conducted on normal hours.
Sandy, a historically damaging storm for the U.S., has paralyzed much of the East Coast. See: Officials struggle to assess Sandy’s damage.
Natural gas had fallen 3% on Tuesday. But on Wednesday, natural gas for December delivery NGZ12 +1.08% added 3 cents, or 0.9%, to $3.72 per million British thermal units.
December gasoline futures RBZ2 +1.42% rose 4 cents, or 1.4%, to $2.65 a gallon.
And December heating oil HOZ2 +0.17% rose 1 cent, or 0.2%, to $3.08 a gallon.
Robert Daniel is MarketWatch's Middle East bureau chief, based in Tel Aviv.
