Oil prices experienced a slight decline today due to weak economic data from China and mounting concerns about global demand. Both WTI and Brent crude saw a minor drop, with WTI trading down $0.87 or 1.18% to close at $72.99 and Brent trading down $0.78 or 0.99% to close at $77.69. The weak economic data from China, one of the world’s largest consumers of oil, raised concerns about reduced economic activity and lower oil demand. Moreover, broader concerns about weak global demand and potential oversupply further contributed to the downward pressure on oil prices. Market participants closely monitored these developments, keeping an eye on any potential shifts in demand patterns and geopolitical factors that could influence future oil price movements.