Crude prices for front-month deliveries slid on Tuesday after worse-than-expected industrial production print in China seemingly raised concerns about the commodity’s demand in in one of the world’s biggest oil importers. Markets are unsure if current government intervention is enough to rejuvenate the country’s economy. The middle of August usually sees the lowest level of crude oil trading, both on the physical and paper sides. This month is no exception, with very little in the way of strong pricing signals and the key benchmarks mostly trending sideways. China has provided some bearish sentiment, however, with a further slowdown in industrial output weighing on oil prices on Tuesday morning. The Chinese Central Bank’s cutting of corporate lending rates to 2.5% helped to offset some of that downward pressure, but both WTI and Brent had fallen by more than 1% on Tuesday morning. NN: Nothing has changed…. Best to go to the beach and ignore oil market stupidness. Do not not move aggressively. See BlackMask Market News dated today.