Oil prices rise on storm threat

Oil prices rose today after a Superstorm Sandy caused havoc across the north-eastern US and threatened to inflict more damage inland.

Concerns about oil supplies pushed benchmark crude for December delivery up 78 cents to 86.46 dollars per barrel in late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 14 cents to finish at 85.68 dollars a barrel in New York.