Oct 29- U.S. stock market executives, regulators and brokers have agreed to close the U.S. stock markets on Tuesday because of Hurricane Sandy, with an official announcement coming shortly, said people who were on an industry-wide call on the matter on Monday.
*U.S. East Coast refineries shutting ahead of hurricane. *Hurricane expected to hit U.S. East Coast later Monday. NEW YORK, Oct 29- U.S. gasoline futures rallied even as Brent and U.S. crude retreated on Monday as over two-thirds of the East Coast refining sector shut down ahead of Hurricane Sandy.
*U.S. East Coast refineries shutting ahead of hurricane. NEW YORK, Oct 29- U.S. gasoline futures jumped as much as 4 percent while benchmark Brent crude was little changed on Monday as over two-thirds of the East Coast refining sector shut down ahead of Hurricane Sandy.
NEW YORK, Oct 29- More than two-thirds of the U.S. East Coast's refining capacity shut on Monday ahead of Hurricane Sandy, sending gasoline futures up as much as 4 percent as operators braced for potentially damaging power outages and flooding.
The nuclear reactors in Sandy's current path include units at Public Service Enterprise Group Inc's 2,332- megawatt Salem and 1,161- MW Hope Creek plants in New Jersey, which were likely to bear the brunt of the storm before it moves inland.
*New York, Philadelphia, Washington, Boston in its path. NEW YORK/ REHOBOTH BEACH, Del., Oct 29- Hurricane Sandy began battering the U.S. East Coast on Monday with fierce winds and driving rain, as the monster storm shut down transportation, shuttered businesses and sent thousands scrambling for higher ground hours before the worst was due to strike.
Meteorologist Todd Gross says Hurricane Sandy is a "deep storm."
NEW YORK, Oct 29- New York Governor Andrew Cuomo said two key tunnels connecting Manhattan to New Jersey and Brooklyn would be closed later on Monday ahead of Hurricane Sandy. Cuomo said the Holland Tunnel, which opened in 1927 and remains one of the main connections between New Jersey and New York City, would close as a precaution at 2 p.m..
The ports of New York/New Jersey and Delaware Bay are closed, with CNBC's Mary Thompson.
Sandy was expected to lose some punch as she moves over Pennsylvania and Maryland, crossing near Constellation Nuclear Energy Group's 1,705- MW Calvert Cliffs nuclear plant in Maryland, Exelon Corp's 2,244- MW Peach Bottom, 805- MW Three Mile Island and 2,264- MW Limerick in Pennsylvania, and PPL Corp's 2,450- MW Susquehanna in Pennsylvania.
With Sandy gaining strength overnight as the vast storm turned westward toward New Jersey, Philadelphia Energy Solutions began the precautionary closure of key units at its 330,000 barrel-per-day Philadelphia refinery, the biggest in the region, said one source familiar with operations.
NEW YORK, Oct 29- Gasoline and heating oil futures jumped on Monday as Hurricane Sandy approached the U.S. East Coast and refineries in the region shut or curbed production.
Colonial Pipeline, the largest U.S. product pipeline, is still shipping gasoline and diesel up from Gulf Coast refineries to the Linden, New Jersey terminus in the New York Harbor, spokesman Steve Baker said.
LONDON, Oct 29- Brent crude oil steadied around $110 a barrel on Monday as Hurricane Sandy, which forecasters said could be the largest storm ever to hit the North American mainland, approached the U.S.
FMHR traders cover the very latest on Hurricane Sandy as it churns towards the northeast. CNBC's Scott Cohn reports from Battery Park and Kayla Tausche from New Jersey. Meanwhile Cliff Gallant, insurance analyst at KBW, discusses the storm's impact on insurers.
LONDON, Oct 29- As the Northeast United States locks down in the path of Hurricane Sandy, the freakishly large tropical storm careening in from the Atlantic, the main impact is likely to be on fuel demand rather than supply.
*U.S. East Coast refineries cut output ahead of hurricane. LONDON, Oct 29- Brent crude oil fell towards $109 a barrel on Monday as U.S. East Coast refineries shut ahead of the approach of Hurricane Sandy, reducing crude use in the world's largest oil consumer.
It seems likely that Sandy will impose greater destruction of property, and add to that the loss of about two days commercial activity, spread over a week across 25 percent of the economy, an initial estimate of the economic losses imposed by Sandy is about $35 to 45 billion.
*U.S. East Coast refineries cut output ahead of hurricane. LONDON, Oct 29- Brent crude oil fell below $109 a barrel on Monday as refineries along the U.S. East Coast wound down operations ahead of the approach of Hurricane Sandy, reducing crude use in the world's largest oil consumer.
SINGAPORE, Oct 29- Oil slipped on Monday, with Brent below $109 a barrel, as refineries along the U.S. East Coast wind down operations ahead of approaching Hurricane Sandy, reducing crude use in the world's largest oil consumer.