Oil prices were down on Tuesday in Asia following the release of weak economic data from Japan and Europe, sparking concerns of a gloomy outlook for oil demand.
U.S. Crude Oil WTI Futures fell 0.5% to $58.36 by 12:32 AM ET (04:32 GMT). International Brent Oil Futures were also down 0.5% to $64.42.
Japan’s Jibun Bank Flash Manufacturing Purchasing Managers’ Index slipped to a seasonally adjusted 48.9 from a final 49.3 in the previous month, marking the quickest pace of deterioration since February.
Manufacturing activity in Germany also fell to its lowest level since the financial crisis this month, data from IHS Markit showed. Germany’s services sector also grew at its slowest pace in nine months.
Source : Investing.com