LONDON, Sept 10 Reuters Oil prices gave up the previous day39;s gains on Tuesday on a weaker demand outlook and global oil oversupply risks that continue to weigh on the market.

Providing a floor for prices were U.S. supply disruptions from Tropical Storm Francine.

Brent crude futures were down 48 cents, or 0.67, at 71.36 a barrel at 1317 GMT. U.S. West Texas Intermediate crude lost 42 cents, or 0.6, to 68.29.

Both benchmarks had risen about 1 on Monday.

The Organization of the Petroleum Exporting Countries OPEC forecast in a monthly report on Tuesday that global oil demand would rise by 2.03 million barrels per day bpd in 2024, down from previously projected growth of 2.11 million bpd.

OPEC also cut its 2025 global demand growth estimate to 1.74 million bpd from 1.78 million bpd.

The weakening global demand prospects and expectations of oil oversupply kept the market suppressed.

Chinese data on Monday showed consumer inflation accelerated in August to its fastest in half a year, though domestic demand remained fragile, and producer price deflation worsened.

And while data released on Tuesday showed China39;s exports grew at their fastest in nearly 112 years in August, imports disappointed against a backdrop of depressed domestic demand.

The message from China is simple but loud and reverberates throughout the globe, said PVM Oil analyst Tamas Varga, adding that the country is struggling to encourage spending and boost sluggish demand.

Meanwhile, the U.S….