LONDON—Oil prices fell on Wednesday on a stronger U.S. dollar and as weak data from top oil importer China raised demand fears.
Brent crude futures for August delivery were down $1.29, or 1.75 percent, to $72.42 a barrel at 1013 GMT. U.S. West Texas Intermediate crude (WTI) fell $1.28, or 1.84 percent, to $68.18.
Both benchmarks fell by more than 4 percent on Tuesday.
Brent’s July contract, which expires on Wednesday, and the U.S. benchmark were on track for monthly declines of more than 9 percent and 11 percent, respectively.
China’s manufacturing activity contracted faster than expected in May on weakening demand, with the official manufacturing purchasing managers’ index (PMI) down to 48.8 from 49.2 in April. The outcome lagged a forecast of 49.4….