Crude oil pulls back

2015-05-04 08:04:37

(MENAFN- ProactiveInvestors)

Crude oil futures settled lower today as a monthly decline in Chinese manufacturing activity dulled the outlook for crude demand.

On the New York Mercantile Exchange West Texas Intermediate for June delivery settled down 0.4% at $58.93 a barrel.

Brent crude for June delivery on London’s ICE Futures exchange fell a penny to end at US$66.45 a barrel.

China’s HSBC purchasing managers index a widely tracked gauge of manufacturing activity fell in April to a final reading of 48.9 — the lowest level since April 2014.

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