Chinese Demand Concerns Weigh on Oil Prices

Oil prices continued to be weighed down in Asian trade on Wednesday by growing concerns about China’s economic growth and oil demand which were offsetting an estimated drop in U.S. crude oil inventories.   In Asian trade, both benchmarks were dropping by around 0.2%, with the U.S. WTI Crude benchmark clawing back to the $80 per barrel handle after falling to $79.50 earlier on Wednesday. The international benchmark, Brent Crude, had dropped to about $83.60, as concerns about slowing Chinese economic and oil demand growth…