New York Crude Oil Trade Lower on Prices

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Crude oil prices slightly lower in afternoon trading in New York as fears of demand and (BP LSE: BP), the inability to cap leaking oil in the Gulf of Mexico also exceeds the relatively good news on U.S. manufacturing.
Institute of Supply Management said its manufacturing index at 59.7 in May, better than analysts expected but still lower than the 60.4 reading in April, showed that while manufacturing activity is still in development, he was down slightly from April levels .
Concerns about demand came as an index of purchasing managers’ in China fell from 55.7 in April to 53.9 in May, raised the possibility that the Chinese economy cools and will not require as much oil that had been anticipated, and concerns in the Eurozone banks have to write more much debt, exacerbating the economic woes there.
July contracts for West Texas Intermediate crude fell $ 1.09 to $ 73.35 per barrel in just past 1:00 in the New York Mercantile Exchange, while at last report Brent crude was 88 cents lower to $ 73.70 per barrel The ICE futures exchange in Europe in London.
NYMEX July gasoline futures were 2 cents lower to $ 2 per gallon in afternoon trading in New York, while July heating oil futures also traded at $ 2 per gallon, down 1 cents, and July natural gas was down 10 cents to $ 4, 27 per million British thermal units.
The retail price of a gallon of gasoline fell half a cent overnight, for $ 2,727 per gallon national average, placing the average price of unleaded regular gasoline at 5.5 cents below where it was last week, although gasoline remains 21.5 cents higher than the It was a year ago. natural gas futures