Crude oil futures ended lower on Monday weighed down by political uncertainty following an assassination attempt on former President Donald Trump, and weak economic data from China. Data showing a smaller than expected growth of the Chinese economy in the second quarter has raised concerns about the outlook for oil demand from the country. Data from the National Bureau of Statistics said China's gross domestic product expanded 4.7% on year in the second quarter. That was weaker than street forecast of 5.1% expansion and also down from the 5.3% growth posted in the three months to March.
Benchmark U.S. crude oil futures for August delivery fell $ 0.27 or 0.32% to $ 81.91 per barrel on the New York Mercantile Exchange. Brent crude for September delivery dropped $0.18 or about 0.21% to $84.85 per barrel on London's Intercontinental Exchange.