LONDON (SHARECAST) - Crude oil futures fell for a second day on Monday after data surprisingly weak US manufacturing data sparked concern about reduced oil demand.
Crude for September delivery fell 81 cents to settle at $94.89 a barrel on the New York Mercantile Exchange.
In London Brent crude settled up 14 cents at $116.88 a barrel on the ICE futures exchange.
Oil prices were pressured after the Institute for Supply Management said its manufacturing purchasing managers' index grew at the slowest rate in two years.
The index fell to 50.9 points in July from 55.3 the month before, increasing concern that the US economic recovery is slowing. Economists had predicted a figure of 51.3.
Meanwhile gold futures took a breather on Monday after a US debt deal was agreed late Sunday.
Gold had risen sharply the previous session as jitters set in ahead of the US debt deal. The yellow metal again rose in early Monday trading, following the disappointing US manufacturing data, but later retreated as safe haven demand dwindled.
Gold for December delivery fell $9.50 to $1,621.70 an ounce on the Comex division of the New York Mercantile Exchange.
September silver was also lower, down 80 cents to settle at $39.31 an ounce while copper for September lost 7 cents to $4.41 a pound.
