Oil falls on mixed Chinese demand picture

LONDON, June 20 (Reuters): Oil prices fell in choppy trading on Tuesday as a clouded oil demand outlook outweighed the potential boost from a cut to China's benchmark lending rates.
Brent crude fell 92 cents, or 1.2 per cent, to $75.17 a barrel by 1345 GMT. US West Texas Intermediate (WTI) crude for July was down $1.53 from Friday's close at $70.25. The July contract expires at the end of trade on Tuesday.
The more active WTI crude contract for August delivery was down $1.51 from Friday at $70.42 a barrel. There was no WTI settlement on Monday because of a US public holiday.
China on Tuesday cut two benchmark lending rates by 10 basis points each. The cuts, the first in 10 months, were less aggressive than some forecasts.
A resulting improvement in oil demand, however, appears to be far from certain.
"Oil traders may need to see a materialised strong economic rebound in China to improve their outlook on oil demand," said Tina Teng at CMC Markets in Auckland.
The rate reductions follow recent economic data that showed China's retail and factory sectors are struggling to sustain momentum from earlier this year.