Oil futures prices fall to 8-month low amid weak demand
Crude oil futures fell below $71.30 a barrel on Tuesday, their lowest since hitting a seven-month low in August, as muted demand added to the impact of relatively ample supplies.
New data from China has added to concerns that economic growth in one of the world's biggest oil consumers is unlikely to recover this year, as key indicators of domestic demand for refineries fell more than expected in August. That was helped by earnings data from major Chinese oil producers and refineries reflecting lower demand for fuel, with Sinopec, PetroChina and CNOOC all reporting disappointing earnings...