Oil slips over Chinese manufacturing data


Oil markets fell today because of weak manufacturing activity data in May from the world's second biggest oil consumer, further impacting global oil demand and causing a downgrade of Asian equities and the euro.

China's official Purchasing Managers' Index eased to 50.4 in May, the weakest reading this year, reported Reuters.

Brent crude slipped 17 cents to $101.70 a barrel and US oil fell 28 cents to $86.25 a barrel.

The data from China comes ahead of the US employment report, which is expected to show nonfarm payrolls increased 150,000 in May from 115,000 in April.