Oil dips as US rigs, refiners appear to have avoided worst of storm
MELBOURNE: Oil prices fell in early trade on Friday as a massive hurricane raced inland past the heart of the US oil industry in Louisiana and Texas, with a storm surge weaker than predicted.
US West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.4 per cent, to $42.85 a barrel as of 0014 GMT, adding to overnight losses.
Brent crude futures for October, set to expire on Friday, fell 9 cents, or 0.2 per cent, to $45.00 a barrel, while the more active November contract slipped 7 cents to $45.53.
