Oil Falls on Demand Concerns, Brent at $72 a barrel

Oil has fallen amid concerns over slowing growth and lesser demand from China. Brent is at $72 a barrel, and WTI at $69 a barrel.  The Brent-TI premium stands at $3. China state-owned refiner Sinopec said Chinese demand could peak in 2025. BP has a partnership with Sinopec in ethylene derivatives.