Oil Falls on Lingering Demand Concerns in China

OIL PRICE - LONDON. Oil prices dipped on Tuesday on worries of a slowing Chinese economy crimping demand and despite a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September.

Brent futures were down 67 cents, or 0.8%, to $84.18 a barrel by 0811 GMT, while U.S. West Texas Intermediate (WTI) crude fell 72 cents, or 0.9%, to $81.19.