Oil Slightly Slips on Slower Global Manufacturing as Equities Rise

Bloomberg reported that West Texas Intermediate oil slipped 1 cent as data from Europe and China showed a slowdown in global manufacturing and equities continue to rise for a 3^rd day.

As quoted in the market news:

Oil slipped 1 cent as China’s preliminary manufacturing data for April showed growth was less than in March. Euro-area output shrank for a 15th month. U.S. oil supplies rose to the most since 1990 last week in a Bloomberg survey before a government report tomorrow. Equities advanced on better-than- expected corporate earnings and U.S. new-home sales. Crude briefly extended losses as stocks pared gains just after 1 p.m. in New York on a false report of a bombing at the White House.

Click here to read the full Bloomberg report.