Oil prices slip on weak Japanese data

Tuesday 30 April 2013 07.46
Oil prices ease in Asian trading
Oil prices ease in Asian trading

The price of US crude fell slightly to near $94 a barrel today after Japan released lukewarm manufacturing data.

Benchmark crude for June delivery was down 8 cents to $94.42 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.50 to finish at $94.50 a barrel in New York last night.

Brent crude fell 16 cents to $103.65 on the ICE Futures exchange in London.

Data released by the Japanese government showed a slight uptick in monthly factory production. But the improvement was not as solid as analysts had expected.

Robust US energy production was also keeping oil prices in check, analysts said.

Keywords: oil, brent, japan