Oil Prices Dip as China’s Economic Slowdown and Middle East Tensions Weigh on Market

Investors adjust demand forecasts amid weak Chinese data and geopolitical uncertainties.

Brent crude futures fell 1.3% to $79.98 per barrel, while WTI dropped 1.6% to $76.94.
China's economy showed signs of losing momentum, affecting oil demand forecasts.
Middle East geopolitical tensions added to market volatility, with Iran yet to retaliate against Israel.
Gaza ceasefire talks in Qatar have been paused, contributing to market uncertainty.
Positive U.S. economic data provided some support to oil prices despite overall declines.