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Oil eases though financiers cautious over potential Mideast supply interruption

Oil relieved on Friday after a. rally the previous day, however prices remained set for a 2nd. directly weekly gain as financiers weighed the impact of. hurricane damage on U.S. need against any broad supply. disturbance if Israel attacks Iranian oil sites.

Brent crude oil futures fell 39 cents, or 0.5%,. to $79.01 a barrel by 0152 GMT. U.S. West Texas Intermediate. crude futures dropped 32 cents, or 0.4%, to $75.53 per. barrel.

For the week, both criteria were headed for a 1% -2% gain.

In the United States, Cyclone Milton plowed into the. Atlantic Ocean on Thursday after cutting a destructive course. throughout Florida, eliminating at least 10 individuals and leaving millions. without power. The destruction could dampen fuel intake in. some locations of the world's largest oil manufacturer and customer.

Investors are evaluating how hurricane damage may affect. the U.S. economy and fuel need, said Hiroyuki Kikukawa,. president of NS Trading, a system of Nissan Securities.

Oil costs are likely to hover around the current 200-day. typical levels, with the primary concern being whether Israel. will retaliate versus Iranian oil centers, he stated.

The 200-day average for Brent is at $81.68 a barrel and for. WTI it's at $77.36.

Unrefined criteria surged this month after Iran launched more. than 180 rockets versus Israel on Oct. 1, raising the possibility. of retaliation versus Iranian oil facilities. Israel has yet to. respond, and unrefined standards have relieved and remained fairly. flat through the week.

Israeli Defence Minister Yoav Gallant, nevertheless, has actually said. that any strike versus Iran would be lethal, exact and. unexpected.

Iran is backing a number of groups battling Israel, consisting of. Hezbollah in Lebanon, Hamas in Gaza and the Houthis in Yemen.

In Lebanon, Israeli strikes on main Beirut on Thursday. night killed 22 people and wounded a minimum of 117, Lebanon's. health ministry stated. Lebanese security sources stated a minimum of. one senior Hezbollah figure was also targeted in the attacks.

Gulf states, meanwhile, are lobbying Washington to stop. Israel from attacking Iran's oil websites, out of concern their own. oil facilities could come under fire from Tehran's proxies if. the conflict escalates, three Gulf sources informed Reuters.

On the supply side, Libya's National Oil Corporation

(source: Reuters)