<a href=BP” height=”285″ src=”https://www.offshore-technology.com/wp-content/uploads/static-progressive/7500999180_326eb3d678_o(1).jpg” style=”padding: 10px” title=”Slow recovery in fuel supplies were seen in the storm hit area” width=”190″ />

Brent crude fell by one cent to stand at $109.07 a barrel as fuel demand eased in storm hit regions of the United States even as refineries resume operations gradually.

Slow recovery in fuel supplies were seen in the storm hit area due to flooding at its second biggest refinery, Phillips 66’s, a 238,000 barrel-per-day plant in Bayway, New Jersey.

Power glitches at two other plants and a terminal hub in New Jersey also contributed to the slow recovery.

A fire at BP’s residual hydro treater in Texas City also supported gasoline prices, as November gasoline futures rose 2.54% to $2.7980 a gallon.

US crude for December rose by 19 cents to hit $85.87, as investors continue to closely watch for any damage to oil infrastructure and on fuel demand after the storm, reports Reuters.

The CME will start floor trading of oil, natural gas and other commodities at the NYMEX world headquarters in New York.

However, the weekly petroleum inventory report has been delayed by the US Energy Department.


Image: BP’s East plant at the Texas City refinery in the US. Photo courtesy of BP.