The latest oil prices, market news and analysis for July 29

Oil traded near a six-week low as positive economic data from China and renewed tensions in the Middle East were overshadowed by doubts about global demand.

Brent futures were little changed below $81 a barrel after a third weekly decline. China’s industrial profits rose at a faster year-on-year pace in June than a month earlier, showing the resilience of manufacturing. Israel attacked Hezbollah targets on Sunday and threatened further retaliation for an earlier rocket strike that killed 12 children.