Crude oil futures snapped their gaining streak and ended lower on Thursday on getting mixed economic data out of the US that showed that economy still battles headwinds that may crimp demand for fuel and energy. The Federal Reserve Bank of Philadelphia said its manufacturing index ticked down to 15.4 this month from 16.6 in April and US industrial production dropped 0.6% last month, confounding expectations for a 0.1% rise. On the other hand US consumer inflation rates came in better than expected and there was decline in number of individuals filing for initial jobless benefits in the week ending May 10.
Benchmark crude oil futures for June delivery declined by $0.87 or 0.9 percent to close at $101.50 a barrel after trading in a range of $102.26 and $101.27 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for July delivery declined by 0.30 percent to $108.99 a barrel on the ICE.
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