Hurricane Sandy Impacted Crude Oil Trading


The markets are well supplied and the inventories are high, keeping the prices in a range. However, super storm Sandy caused some refineries in the US to shut down production.

The New York Mercantile Exchange floor trading is closed today but electronic trading of energy and other commodities will still carry on. Trading volumes are expected to stay low and the true impact of the storm will become clear only after the storm passes.

Brent Crude price action is cantered around $109.10 level. Any further price softening could potentially target the support at $107.10 followed by $106.59. Alternatively resistance on the upside is located at $109.55 followed by $111.60.

WTI Crude for December delivery traded around $85.60 level on Monday morning. The spread between European and US traded instruments is currently at $23.60.

Alfa Energy Group

Alfa Energy Group, an Edison Energy company, is an international energy, sustainability and technology consultant partner with 250 employees over 3 international locations. For over 25 years, Alfa has been servicing its clients’ needs through energy and water management, sustainability, and compliance consulting, and an intuitive ecosystem of user-driven energy, water, and carbon management software platforms. With coveted awards, an international industry-wide recognition, and clever simple solutions, today Alfa is partnering with clients to establish and deliver pivotal net zero strategies. Through smart energy management, the expertise and diligence of its people, transparent processes, and data management, Alfa continues to lead through its recognised gold standard of service delivery.