Oil rose as refineries resumed operations after Atlantic superstorm Sandy dissipated, increasing demand for crude oil.

Futures climbed as much as 1.8 percent as Philadelphia Energy Solutions’ 355,000-barrel-a-day Pennsylvania refinery restored operations. PBF Energy Inc. said two plants on the East Coast operated at reduced rates. Oil also climbed as the dollar weakened against the euro.

Philadelphia Energy’s Pennsylvania refinery “came through the storm without issues,” Cherice Corley, a spokeswoman at the plant, said in an e-mail yesterday.

PBF said Paulsboro, New Jersey, and Delaware City, Delaware, refineries operated at reduced rates overnight. The company said it’s “dealing with various logistical issues.”

Crude oil for December delivery increased to $87.19 a barrel on the New York Mercantile Exchange. Futures are down 5.6 percent this month and 12 percent this year.

Brent oil for December settlement rose 59 cents to $109.67 a barrel on the London-based ICE Futures Europe exchange. The European benchmark’s premium to the West Texas Intermediate contract traded in New York narrowed for a second day.

Gold rose for a second day, tracking gains in commodities, on speculation that the European crisis will be contained and as the dollar weakened, increasing demand for the precious metal as an alternative investment.

Euro-area finance chiefs discussed giving Greece more time to meet bailout targets. Holdings in bullion-backed exchange-traded products climbed to a record 2,587.92 metric tons yesterday.

In October, the business activity in the U.S. unexpectedly fell for the second month in a row, which again confirms the fact that the manufacturing sector has not played a central role in the reconstruction of the national economy. In September, the index of manufacturing activity rose from the Federal Reserve Bank of Chicago 49.7 to 49.9. Recall that a value below 50 indicates negative dynamics. According to the median forecast of analysts, the index would be 51.

Importers of gold in India remain cautious on the weakening rupee and rising prices abroad. Demand for gold increases during festival season, culminating in November will be the Hindu festival of lights Diwali, as well as wedding season.

Gold futures for December delivery gained to $1,726 an ounce on the Comex in New York, paring the loss for October to 3 percent, the first decline since May.

Change % Change Last

Oil $85.72 +0.18 +0.21%

Gold $1,711.20 -0.90 -0.05%