Oil prices fell today but were on track for second weekly gain as investors weighed the impact of damage caused by Hurricane Milton and escalating tensions in West Asia. 

In the global crude market, Brent crude was trading 0.8 percent down at 78 dollars and 71 cents per barrel and the U.S. West Texas Intermediate (WTI) was also trading 0.8 percent down at 75 dollars and 19 cents per barrel, when reports last came in.