Crude oil futures weaken slightly, supporting observations of lower US interest rates due to concerns surrounding Chinese demand

July 16, 2024 at 10:06 AM GMT+9 (some excerpts)

Crude oil futures declined slightly during Asian time. Concerns that the slowdown in the Chinese economy will put pressure on demand have become serious. However, there is a growing view that the US Federal Reserve (FRB) will start cutting interest rates as early as September, and the range of decline is limited.
As of 0021 GMT (9:21 a.m. Japan time), North Sea Brent futures are 0.09 dollars (0.1%) lower per barrel = 84.76 dollars, and US WTI crude oil futures are 0.13 dollars (0.2%) lower at 81.78 dollars.