US petrol, heating oil futures up as Sandy fuels safe-haven buys

US petrol and heating oil futures gained and US treasuries also rose yesterday, as economic worries over Hurricane Sandy fuelled safe-haven buying in thin trading volume as the powerful storm began to batter the US east coast.

The storm closed Wall St on the anniversary of the 1929 stock market crash. It was the market’s first weather-related closure in 27 years, and other markets closed early as investors braced for the impact of Sandy, one of the biggest storms ever to slam the US eastern seaboard.

US stock market executives, regulators and brokers agreed to close markets again today but a final decision has not been made yet to reopen tomorrow. Bond markets closed at noon EDT and will not reopen today, a trade group said.