Oil prices fell on Tuesday after China devalued its currency in its latest effort to prop up economic growth, making dollar-priced commodities more expensive and weighing on the oil demand outlook for the world’s top energy consumer. A slowdown in China’s economy, which is still expected to grow by around 7 percent annually, has been a key driver for the sharp drop in oil prices over the past year along with rising global supplies. Front-month Brent futures LCOc1 were down 10 cents at $50.31 a barrel at 0845 GMT (0445 EDT), cutting short oil’s biggest daily rally since late May the previous session. U.S. crude CLc1 fell 25 cents to $44.71. China’s central bank made a “one-off depreciation” of nearly 2 percent in the yuan CNY=SAEC after a run […]