Investing.com - Oil prices fell in U.S. trading on Monday after data released earlier revealed output in the nation's factories fell short of expectations in March.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded down 0.62% at USD96.63 a barrel on Monday, off from a session high of USD97.67 and up from an earlier session low of USD95.94.
The Institute for Supply Management reported earlier that its purchasing managers index for March fell to 51.3, from 54.2 in February.
Analysts had expected the index to remain unchanged at 54.2.
The figures sent oil falling after fueling concerns that the U.S. economy continues to battle headwinds amid its recovery and will demand less fuels and energy going forward.
Meanwhile, official data released Monday revealed that U.S. construction spending rose more than expected in March, which did little to curb losses.
In a report, Census Bureau said that U.S. construction spending rose by 1.2% in February after contracting 2.1% in January.
Analysts were expecting U.S. construction spending to rise to 1.0% in February.
Elsewhere on the ICE Futures Exchange, Brent oil futures for May delivery were up 0.93% at USD111.05 a barrel, up USD14.12 from its U.S. counterpart.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded down 0.62% at USD96.63 a barrel on Monday, off from a session high of USD97.67 and up from an earlier session low of USD95.94.
The Institute for Supply Management reported earlier that its purchasing managers index for March fell to 51.3, from 54.2 in February.
Analysts had expected the index to remain unchanged at 54.2.
The figures sent oil falling after fueling concerns that the U.S. economy continues to battle headwinds amid its recovery and will demand less fuels and energy going forward.
Meanwhile, official data released Monday revealed that U.S. construction spending rose more than expected in March, which did little to curb losses.
In a report, Census Bureau said that U.S. construction spending rose by 1.2% in February after contracting 2.1% in January.
Analysts were expecting U.S. construction spending to rise to 1.0% in February.
Elsewhere on the ICE Futures Exchange, Brent oil futures for May delivery were up 0.93% at USD111.05 a barrel, up USD14.12 from its U.S. counterpart.