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

OIL rose to the highest level in more than a week in New York, climbing with equities on optimism that the economy willexpand and a report that US consumer spending gained in July.

CRUDE oil in New York fell after reaching a 13-year high on concern that US gasoline inventories are too low to meet demand during the warm-weather months.

CRUDE oil in New York tumbled for the second straight session as mild northeast weather is expected to trim US fuel demand.