Oil extended losses in Asian trade today as mega-storm Sandy tore through the eastern coast of the United States and forced the shutdown of refineries, roads and airports. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in December, was down 28 cents to 85.26 US dollars a barrel in morning Asian trade. Brent North Sea crude for December fell 46 cents to 109.09 US dollars. The United States is the world's biggest oil consuming nation and any dent in demand there has a bearing on prices.
News On AIR | October 30, 2012 10:46 AM
Oil extends losses as storm lashes US east coast