October 30, 2012

The price of European Brent oil opened Tuesday’s trading session firm over $109 a barrel as Hurricane Sandy threatens a partial operational shutdown in refineries on the US East Coast as the Hurricane it New York City late last night.

Latest Brent Oil Price

In London, ICE Brent oil futures for December 2012 delivery was trading at $109.58 a barrel, 09:02 GMT today on the ICE Futures Exchange, or 0.1 percent higher.

“Sandy looks to make a direct hit in the Northeast, so it’s very possible New Jersey and Pennsylvania refiners might engage in some defense and slow or shut some operations,” said John Kilduff, partner at Again Capital LLC in New York.

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