Oil prices fell on Monday morning.
Market observers said that disappointing economic data from China would have weighed on demand.
A barrel (159 liters) of the North Sea Brent cost $ 74.69 in early trading.
That was 72 cents less than on Friday.
The price of a barrel of American West Texas Intermediate (WTI) fell 62 cents to $ 73.33.
In the second largest economy in the world, the mood of purchasing managers in industry has deteriorated unexpectedly.
An index value published by the business magazine "Caixin" fell by 1.0 points to 50.3 points and thus to its lowest level since spring 2020. China is one of the most important oil importers.
A gloomy mood in the economy could indicate less growth and thus weaker demand in China.
In addition, the spread of the delta variant of the coronavirus also continued to play a role.
In parts of Asia, the number of infections is increasing and, with it, concerns about mobility restrictions.