The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.
Retail gasoline prices in the U.S. fell to the lowest level in a year as refineries restored production and stockpiles rose to the most in eight months, blunting criticism of President Barack Obama’s energy policies.
Hurricane Sandy is far from a dandy, threatening to be one of the worst storms in history. Because it will blow away ghosts and goblins it is being called the “Frankenstorm.” It will also blow energy demand.