LONDON, July 24 Reuters Oil prices traded around their lowest level in six weeks on Wednesday, as the northern hemisphere gets deeper into summer with limited signs of the expected fuel consumption surge the period usually sees.

Wednesday saw only a slight reprieve, as prices snapped three straight sessions of decline on falling U.S. crude inventories and growing supply risks from wildfires in Canada boosted prices.

Brent crude futures for September rose 66 cents, or 0.8, to 81.67 a barrel by 0908 GMT. U.S. West Texas Intermediate crude for September increased 65 cents, or 0.8, to 77.61 per barrel.

The likely reason for the wider selloff has been the diminishing hopes of demand resurrection, with an admission from refiners that the summer leap in consumption is simply not taking place, said Tamas Varga of oil broker PVM.

Prices had fallen to a sixweek low on Tuesday, with Brent closing at its lowest level since June 9 on ceasefire talks between Israel and Hamas in a plan outlined by U.S. President Joe Biden in May and mediated by Egypt and Qatar.

Prices also suffered due to continued concern that the economic slowdown in China, the world39;s biggest crude importer, would weaken global oil demand.

WTI had lost 7 over the previous three sessions, while Brent shed nearly 5.

U.S. crude oil, gasoline and distillate inventories fell for the fourth straight week in the previous week, according to market sources citing the American Petroleum Institute API, reflecting…