Oil rises as East Coast refining resumes - BusinessWeek

The storm forced several refineries and petroleum terminals to reduce production or shut down altogether. The East Coast may deal with lower fuel supplies in coming weeks, and traders are betting oil and gasoline prices will rise.

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Benchmark West Texas Intermediate crude rose $1.46 to $88.73 per barrel in New York. Brent crude jumped $1.97 to $113.85 per barrel in London. Benchmark West Texas Intermediate crude rose $1.46 to $88.73 per barrel in New York. Brent crude jumped $1.97 to $113.85 per barrel in London. "There is clearly a worry about the contribution of some key northeastern refineries," said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service.

Oil rises as East Coast refining resumes - BusinessWeek