Oil Prices Dip to Six-Month Low Amid Demand Concerns and Market Volatility

Algorithmic trading and economic uncertainties in the US and China contribute to the recent decline in oil prices.

West Texas Intermediate crude fell below $72 per barrel, the lowest since February.
US crude supplies dropped significantly, but demand concerns persist.
Ceasefire talks in Gaza have eased supply disruption fears.
Economic data revisions in the US and weak demand in China impact market sentiment.
OPEC+ may reconsider output plans amid falling prices and global demand challenges.