Oil prices settled lower today pressured by economic activity in China. Manufacturing activity in China, the world’s second-largest economy, contracted for a fourth straight month in January, an official factory survey showed on Wednesday. The latest sign of the broader Chinese economy struggling to regain momentum came days after a court ordered the liquidation of troubled property developer China Evergrande. “The factory data confirms our view that China, at least for now, is an impediment to global oil demand growth,” said Tamas Varga of oil broker PVM. U.S. policymakers, meanwhile, kept rates unchanged this week. Economist predictions suggested that a cut is unlikely before June, given continuing strength in household spending and uncertainty over the economic outlook. WTI traded down $1.97 or -2.5% to close at Brent traded down $1.89 or -2.3% to close at $80.55.