Oil trims weekly advance
Oil fell for the first time in four days, paring a weekly gain in New York, as two refineries remained shut on the U.S. East coast in the aftermath of Hurricane Sandy. Brent crude slid a fifth day in London.
Futures declined as much as 0.5 percent after rising the most in three weeks yesterday. Phillips 66 and Hess Corp. (HES)'s New Jersey refineries, with a combined crude processing capacity of 308,000 barrels a day, remained shut four days after the Atlantic superstorm struck the area.
A report today may show manufacturing in the euro area contracted for a 15th month, signaling weakening fuel demand.