UPDATE 4-Brent slips to near $108 as China growth concerns weigh
* China Q2 GDP up 7.5 pct yr/yr, in line with expectations
* China's implied oil demand rises nearly 10 pct in June
* Israel's Netanyahu says Iran closer to nuclear 'red line'
* Coming up: U.S. retail sales; 1230 GMT
(Adds details, quotes, updates prices)
LONDON, July 15 (Reuters) - Brent crude fell towards $108 a barrel on Monday as data showing a slowdown in China's economic growth and weak momentum in the world's second-largest oil consumer weighed on the outlook for demand.
China's annual GDP growth slowed to 7.5 percent in the second quarter of 2013, the ninth quarter in the last 10 that the rate has fallen, official data showed.
Initially, the data was greeted with relief as the figures were within expectations and dispelled fears of an even steeper slowdown, but trade later turned negative.
"Markets are relieved that the data is not worse, but it is certainly not great. Even though the GDP and retail data were in line, manufacturing activity is weak," Michael Hewson, an analyst at CMC Markets in London, said.
Brent crude front-month was down 52 cents at $108.29 a barrel by 1130 GMT. The August contract expires on Tuesday. U.S. oil was down 47 cents at $105.48. Oil rebounded on Friday led by the biggest surge in gasoline futures this year.
"We had a bullish run in recent weeks but there isn't much to keep it going. Tensions in Egypt are easing off and the economic news is not inspiring," said Simon Wardell, analyst at Global Insight.
Strengthening of the U.S. dollar further weighed as it made the dollar-trade oil more expensive for traders in different currencies, Wardell said.
In other data, China's implied oil demand in June rose to the highest daily output since February as refineries returned from maintenance, but analysts expected annual growth to ultimately be flat on the previous year.
"Overall, the latest numbers from China were in line with expectations. There were no huge surprises and it is a continuation of the soft theme," said Ric Spooner, chief market analyst at CMC Markets. "But industrial output numbers were weak, and there is growth risk."
Other figures released on Monday showed industrial output in June rose less than expected from a year earlier.
Political concerns in the Middle East offered limited support. Brent has held above $100 for most 2012 and 2013 due in part to tensions between the West and Iran over Tehran's disputed nuclear programme.
Israeli Prime Minister Benjamin Netanyahu said on Sunday that Iran was getting closer to the "red line" he set for its nuclear programme. Investors are also watching the regime change in Egypt.
(Addiional reporting by Manash Goswami; editing by Jason Neely)