08:51 AM EDT, 03/11/2024 (MT Newswires) -- Oil prices weakened early on Monday, falling for a third session on expectations for weaker demand as China's economy weakens.

West Texas Intermediate crude for April delivery was last seen down US$0.30 to US$77.71 per barrel, while May Brent crude, the global benchmark, was down US$0.25 to US$81.83.

The drop comes as China's economy continues to be weighed down by a debt crisis in its real estate sector, as the country continues to steer clear of the widespread stimulus measures it has used in the past to counter slowing growth. Traders may also be easing back on risk ahead of February US inflation data coming on Tuesday.

"Crude meanwhile can't get a break, ending the week lower despite Middle East tensions and OPEC+ production cuts and focus remains on demand outlook as China measures again fell short of market expectations. Focus on Tuesday with US inflation, as well as oil market reports from OPEC and EIA on tap," Saxo Bank noted.