China Oil Demand Concerns Aren't Going Away

China’s economic woes and property crisis have been weighing on global oil demand consumption and growth expectations this year, capping the gains in crude prices.   The Chinese slowdown continued to weigh on market sentiment even as oil prices booked a weekly gain last week, bolstered by the 50 bp Fed cut, geopolitical tensions, and low stocks at Cushing, the physical delivery point of the NYMEX WTI futures contract. Brent Crude’s recent slump below $70 proved relatively short-lived, Ole Hansen, Head of Commodity Strategy at Saxo…