Oil Eases but Heads for Weekly Gain

Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane Milton on US demand against any broad supply disruption due to the developments in the Middle East. Brent crude oil futures fell 29 cents, or 0.4%, to $79.11 a barrel. US West Texas Intermediate crude futures dropped 21 cents, or 0.3%, to $75.64 per barrel. For the week, both benchmarks were headed for a 1%-2% gain. Investors are evaluating how hurricane damage might impact the US economy and fuel demand, as well as the developments in the Middle East. Source: Qatar News Agency