By 0933 GMT, Brent crude futures for November were down 51 cents at $88.49 a barrel, while U.S. West Texas Intermediate crude October futures edged 14 cents lower to $85.41
Oil prices dipped on Tuesday as fresh data added to gloom over the state of China’s post-pandemic recovery, although expectations of an extension in supply cuts by leading OPEC+ producers limited losses.
A private-sector survey on Tuesday showed that China’s services activity expanded at the slowest pace in eight months in August as weak demand continued to dog the world’s biggest oil importer. In Britain, a survey indicated service activity fell in August , the first drop since January as higher interest rates reduced consumer and corporate demand.
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