Oil slips, heading for third consecutive monthly fall amid strong dollar and weak China demand

Oil prices edged lower with Brent crude and WTI crude set for a third straight monthly drop, as a firm U.S. dollar and weak Chinese manufacturing data weighed. Brent futures slipped 0.18% to around USD 64.88/barrel, WTI down 0.35% near USD 60.36. Supply increases from major producers and OPEC+’s leaning toward output boost further dampened the market. The weak demand backdrop in China and a strong dollar reduce oil’s upside.