Oil Prices Dipped Amid Hurricane Milton and West Asia Tensions

Oil prices dipped on October 11th, but are still poised for a second consecutive weekly gain as investors assess the impact of Hurricane Milton and escalating tensions in West Asia.

The Brent crude price slipped by 0.8 percent to $78.71 per barrel, while the U.S. West Texas Intermediate (WTI) price also fell by 0.8 percent to $75.19 per barrel.

Despite the decline, oil prices have managed to remain resilient due to concerns over supply disruptions caused by Hurricane Milton and the ongoing tensions in West Asia.