UPDATE 8-Oil slides, Brent/WTI unwinds as rally seen excessive

... restart the rally, but as of now we really don't have it," said Gene McGillian, an analyst with Tradition Energy in Stamford, Connecticut. Activity in China's manufacturing sector may have contracted in July for the first time in 10 months, a ...

http://www.reuters.com/article/2013/07/30/markets-oil-idUSL4N0G014C20130730?feedType=RSS&feedName=marketsNews