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U.S., Brent crude pull back on weak data

Published 08/01/2011, 11:03 AM
Updated 08/01/2011, 11:08 AM

NEW YORK, Aug 1 (Reuters) - U.S. and Brent crude futures turned lower on Monday, giving up earlier sharp gains after a report showed the Institute for Supply Management's U.S. manufacturing index fell to its lowest since July 2009.

The ISM's manufacturing employment index also fell. [ID:nEAPA10DL0]

The dollar index <.DXY> rose as the euro slumped and the dollar rose against the yen. A stronger greenback can pressure dollar-denominated oil prices.

ICE Brent September crude was down 30 cents at $116.44 a barrel at 10:58 a.m. (1458 GMT), having traded between $116.30 and $120.40.

On the New York Mercantile Exchange, September crude fell 50 cents to $95.20 a barrel, having traded between $95.12 and $98.60. (Reporting by Robert Gibbons)

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