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MTECHTIPS:-CRUDEOIL
U.S. crude futures slipped below $86 a barrel on Monday as refineries along the East Coast lowered run rates ahead of approaching Hurricane Sandy, reducing crude use in the world's largest oil
consumer. Six East Coast oil refineries representing 1.19 million barrels per day — or 7 percent of
total U.S. capacity — could potentially be hit by the deadly storm. Speculators cut their net long
U.S. crude oil futures and options positions to the lowest level in three months in the week to Oct.
23 as prices fell by almost 6%. Outlook: Crude is expected to expected to trade with positive bias
supported by Geopolitical tensions in middle east.
U.S. crude futures slipped below $86 a barrel on Monday as refineries along the East Coast lowered run rates ahead of approaching Hurricane Sandy, reducing crude use in the world's largest oil
consumer. Six East Coast oil refineries representing 1.19 million barrels per day — or 7 percent of
total U.S. capacity — could potentially be hit by the deadly storm. Speculators cut their net long
U.S. crude oil futures and options positions to the lowest level in three months in the week to Oct.
23 as prices fell by almost 6%. Outlook: Crude is expected to expected to trade with positive bias
supported by Geopolitical tensions in middle east.
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