US crude oil stocks rose by nearly 11 million barrels last week
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Israel could yet attack Iranian oil infrastructure
Iran warns Gulf states against use of airspace for attacks

LONDON, Oct 9 Reuters 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.

Brent and WTI both gained more than 1 earlier in the session after prices had plunged on Tuesday by more than 4 on a possible HezbollahIsrael ceasefire, though markets remain wary of a potential Israeli attack on Iranian oil infrastructure.

Despite the current heightened tensions in the Middle East, it is easy to forget that the oil market is very much vulnerable to corrections due to the ongoing bearish macro narrative centred on China, said Harry Tchilinguirian, head of research at Onyx Capital Group.

China said on Tuesday it was fully confident of achieving its fullyear growth target but refrained from introducing stronger fiscal steps, disappointing investors who had banked on more support for the economy.

Investors have been concerned about slow growth dampening fuel demand in China, the…