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BEIJINGSINGAPORE, Jan 17 Reuters Oil fell on Wednesday as economic growth in China, the world39;s secondlargest crude user, slightly missed expectations, raising concerns about future demand increases, while U.S. dollar strength dented investor39;s risk appetite.

Global benchmark Brent crude futures fell 58 cents, or 0.7, to 77.71 a barrel by 0720 GMT. U.S. West Texas Intermediate crude futures WTI fell 61 cents, or 0.8, to 71.79 a barrel.

Brent crude rose slightly on Tuesday while WTI fell as investors saw fundamentals weakening in the U.S. but the ongoing naval and air conflicts in the Red Sea increased concerns of tankers having to reroute to avoid the area, increasing costs and the amount of time for deliveries.

China39;s economy in the fourth quarter expanded by 5.2 from a year earlier, which missed analyst expectations and calls into question forecasts that Chinese demand will propel stronger global oil growth in 2024.

The Chinese economic growth figure doesnt end the headwinds over crude oil demand, the Chinese outlook for 2024 and 2025 is still bleak, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

The oil industry was backing the notion that despite a bumpy recovery, oil demand from China has been resilient and will likely reach record levels in 2024.

Despite the lessthanexpected economic…