Crude Oil Falls as China's Weak Data Fuels Demand Concerns

• Crude oil prices fell amid hopes of a Russia-Ukraine peace deal and potential easing of sanctions.
• US offering security guarantees to Ukraine further fueled expectations of increased oil supply.
• Weak economic data from China, including 15-month low factory output growth and slow retail sales, raised concerns about global demand.
• Slowing demand in China, the world's largest oil buyer, and rising EV use are pressuring crude prices.
• The market impact of the US seizing a Venezuelan oil tanker was limited due to increased floating storage and China's prior purchases.

Why It Matters: China's economic slowdown could lower oil prices, potentially easing consumer fuel costs.