Oil prices fell on Thursday. The concerns about weak demand in China, the world's largest crude importer, and expectations of a near ceasefire agreement in the Middle East overcame the gains of the previous session after American inventories were

U.S. West Texas Intermediate crude for September fell 33 cents, or 0.4 percent, to $77.26 per barrel. Brent oil futures for September fell 38 cents, or 0.5 percent, to $81.33 per barrel at 0129 GMT. Benchmarks rose on Wednesday, ending three consecutive sessions of declines after the Energy Information Administration said U.S. crude inventories fell by 3.7 million barrels last week. According to government data, this year, oil imports and Chinese refineries have tended to decrease compared to 2023 due to lower fuel demand in a context of low economic growth