Summary Global crude oil prices fell as traders worried about the strength of demand especially in China.
NEW YORK (AFP) - Global crude oil prices fell Monday as traders worried about the strength of demand especially in China ahead of the release of key Chinese manufacturing data.
US benchmark West Texas Intermediate for October fell 89 cents from Friday s closing level, to $91.52 a barrel as the October futures contract expired.
Brent North Sea crude for delivery in November, the European benchmark, slid $1.42 to settle at $96.97 a barrel in London trade.
"The oil markets are under renewed selling pressure," said Tim Evans, an analyst at Citi Futures.
Evans said that Brent was "bearing the brunt of the selling on worries China would be slow to stimulate its economy," the world s largest consumer of energy.
Traders were eagerly awaiting Tuesday s release of HSBC s flash September purchasing managers index for the Chinese manufacturing sector for a key reading on the health of the economy.
Desmond Chua, analyst at CMC Markets in Singapore, said the Chinese PMI data will come after several economic reports came in below expectations.
Another poor reading "will underscore weakness in the Chinese economy," he said.
Weak housing data Monday in the United States, the largest consumer of crude oil, also cast a cloud on demand.
Existing-home sales unexpectedly slowed in August after four straight months of gains, according to the National Association of Realtors.
