November 1, 2012 10:28 AM

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Oil prices down in Asia

Oil prices were down in Asia today as crude supply was bolstered by the resumption of operations by refineries on the US east coast following super storm Sandy. New York's main contract, light sweet crude for December delivery, shed 27 cents to 85.97 dollars a barrel and Brent North Sea crude for delivery in December dipped 34 cents to 108.36 dollars. Refineries, together with the New York Stock Exchange and Nasdaq exchange, had shut before Sandy struck but resumed business yesterday despite widespread power outages.

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