Oil Prices Recover as Hurricane Sandy Approaches Northeast US

By International Business Times,  October 26, 2012, 03:50:40 AM EDT

Commodity prices recovered after days of losses. Crude oil prices gained modestly after news reported that Hurricane Sandy headed for the US after impacting Cuba and UK's GDP turned out better than expected. Meanwhile, sentiment was also lifted as US' initial jobless claim fell more than consensus, signaling improvement in the employment market. The front-month contract for WTI crude oil added +0.37% while the equivalent Brent crude contract climbed +0.59%. Gold also rebounded despite slippage of the euro with the benchmark Comex contract gaining +0.67%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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