Oil fell after China's GDP fell short of forecasts

 Oil prices are falling for the second session after China's GDP data turned out to be weaker than expected. Brent crude fell 1% to $79.11 a barrel. WTI also falls 1% to $74.64 a barrel. Oil prices tumbled after China's second-quarter GDP growth was 6.3%, below forecasts for growth of 6.9%. Oil prices are also under pressure from reports that some closed oil wells in Libya have reopened. China, the world's second largest economy and a major consumer of commodities, weaker-than-expected Chinese GDP "is likely to continue to worries markets."