Oil prices dipped on Tuesday as the US diplomat worked towards a ceasefire in the Middle East and slowing demand growth in China continued to impact the market. Brent crude futures for December delivery were down 0.3% at $74.1 a barrel, while US West Texas Intermediate crude futures for November delivery were 0.2% lower at $70.43 a barrel. Both Brent and WTI settled nearly 2% higher on Monday, recovering from last week's decline. The gains were attributed to technical profit-taking and short covering. China's oil-demand growth is expected to remain weak despite recent stimulus measures.