On Tuesday, oil prices fell around 2% due to concerns over slower economic growth in the U.S. and China, which could reduce energy demand, following a 7% surge over the prior three days. Brent crude dropped $1.88, or 2.3%, to $79.55 a barrel, while U.S. West Texas Intermediate (WTI) crude declined $1.89, or 2.4%, to $75.53. Analysts at Ritterbusch and Associates noted, “Today’s price pullback, although significant, still fell within range of a normal and deserved correction following a substantial three-day $6-per-barrel advance.” Technical resistance and low U.S. gasoline futures also pressured prices. Despite bullish news from Libya and the Middle East, economic worries in the U.S. and China dominated the market, with Goldman Sachs cutting its 2025 Brent forecast due to slower demand in China. U.S. consumer confidence rose, but increasing unemployment stoked expectations of a Federal Reserve rate cut next month, which could boost economic growth and oil demand.