U.S. crude oil futures fell to the lowest levels since early June due to concerns about China's slowing economy weakening demand. West Texas Intermediate crude for September delivery fell, settling at over $75 per barrel. Brent crude for September delivery fell, coming in at just under $80 per barrel. China's economic turmoil, including sluggish growth and falling crude imports, weighs on oil prices. Geopolitical tensions in the Middle East between Israel and Iran-backed militias in Lebanon threaten further escalation.
