Oil prices ease on concerns over weak China demand, Mideast ceasefire talks

Oil prices dropped on Thursday due to weak demand in China and anticipated Middle East ceasefire, offsetting gains from lower U.S. inventories the previous day. Brent crude futures fell 0.5%, and U.S. West Texas Intermediate dropped 0.4%. China's sluggish economic growth and reduced U.S. stock markets added to the downward pressure.