Oil falls on weak China demand concerns, Mideast ceasefire talks

OIL prices eased on Thursday as concerns over weak demand in China, the world's largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains in the previous session after draws in U.S. inventories.

Brent crude futures for September fell 63 cents, or 0.8%, to $81.08 a barrel by 0355 GMT. U.S. West Texas Intermediate crude for September slid 63 cents, or 0.8%, to $76.96 per barrel.