Oil Slips as Strong Supply Counters Middle East and Hurricane Risk

OIL PRICE - LONDON. Oil prices erased early gains on Wednesday as weak demand fundamentals and rising supply countered elevated risk of supply disruption from conflict in the Middle East and Hurricane Milton in the United States.

Brent crude futures were down 36 cents, or 0.47%, at $76.82 a barrel by 1103 GMT while U.S. West Texas Intermediate (WTI) futures lost 43 cents, or 0.58%, to $73.14.