Tuesday 6 May 2014

Crude oil futures end lower on weak manufacturing data from China

Crude oil futures ended lower on Monday after report of below expectation manufacturing activity from China that overshadowed grim situation in eastern Ukraine. China’s HSBC manufacturing purchasing managers’ index came in at 48.1 April, down from a preliminary estimate of 48.3, it raised concern that the world's second-largest consumer of crude will continue to see a cooling economy.
Benchmark crude oil futures for June delivery ended lower by $0.28 or 0.3 percent to close at $99.48 a barrel after trading in a range of $100.44 and $98.91 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for June delivery were down 1.20 percent to $107.29 a barrel on the ICE.

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