Crude oil fell after reaching a five- week high in New York last week, prompting traders to sell contracts, while trading volumes were limited because of today’s U.K. public holiday. Crude oil for June delivery fell 56 cents, or 1.1 percent, to $52.64 a barrel in after-hours electronic trading on the New York Mercantile Exchange as of 12:29 p.m. London time. London’s ICE Futures exchange was closed for a U.K. holiday. The contract jumped 4.1 percent to $53.20 a barrel on May 1, the highest settlement since March 26, after the Reuters/University of Michigan U.S. consumer sentiment index rose for a second month and a manufacturing index reached a seven-month high. “Between $53 and $55 a barrel, you should see some profit- taking,” said Olivier Jakob, managing director of consultants Petromatrix GmbH. “Oil has been pretty well supported above $50 a barrel over the past six weeks, and overall the market is very much linked to the performance of equities, and there is no sign the trend is changing.” Futures earlier rose as much as 0.7 percent, or 39 cents, to $53.59 a barrel, following a report that manufacturing in China, the world’s second-largest crude user, had gained for the first time in nine months. The CLSA China Purchasing Managers’ Index rose to a seasonally adjusted 50.1 in April from 44.8 in March, the bank said today in a statement. A reading above 50 indicates an expansion. Brent crude oil for June settlement was at $52.57 a barrel, up 21 cents. The contract rose $2.05, or 4 percent, to $52.85 a barrel on May 1.

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