Oil futures slide for first time in six sessions

Oil futures fell for the first time in six sessions as dollar pulled away from a ten-month nadir, following earlier data from China, the world's largest oil importer, and the US, the world's largest consumer. 

As of 05:17 GMT, US crude futures due on August 16 slid 0.62% to $46.25 a barrel from the opening of $46.54, while Brent crude futures due on September 15 tumbled 0.49% to $48.67 a barrel from the opening of $48.91, as the dollar index rose 0.03% to 95.18 from the opening of 95.15. 

Earlier data from China, the world's second largest economy, showed the seasonally adjusted reading for second quarter GDP growth at 1.7%, matching expectations and up from 1.3% in the first quarter. 

Similarly, Chinese GDP grew 6.9% y/y, same as first quarter's growth, and besting forecasts of 6.8%, as retail sales and industrial production accelerated in June y.y.

Otherwise from the US, the Empire State Manufacturing Index fell to 9.8 in July from 19.8, missing expectations of 15.2. 

Oil futures were bolstered for the second week in a row as demand climbed in China and overpowered oversupply concerns around the globe. 

China imported 8.55 million bpd of crude oil in the first half of the year, up 14% y/y, making China the world's largest oil importer and overtaking the US in that regard.