News Summary: Commodities fall on massive storm

AP News
Posted: Oct 29, 2012 3:34 PM
News Summary: Commodities fall on massive storm

EYES ON STORM: Most commodity prices fell as rains began pounding the East Coast ahead of Hurricane Sandy's arrival. The commodity exchanges were closed except for electronic trading as mandatory evacuations were imposed in New York City. That led to light volumes which can contribute to price volatility.

ENERGY MIX: Oil prices fell and energy products rose after major Northeastern refineries reduced operations or closed. The massive storm could affect power supplies and cause flooding. That could delay restarting the refineries.

UPS, DOWNS: Prices fell for gold, copper, wheat, corn and soybeans. Coffee and sugar rose.