Oil Prices Fall On Disappointing Manufacturing Data ...Middle East

Oil prices were down sharply on Monday after the latest manufacturing data showed that the sector contracted for the 5th straight month in April, ending a 30-month period of expansion. Brent price was down 1.8% to $79.15per barrel at 1130 hrs ET, marking the first time it has slipped below $80 per barrel in nearly four weeks.  Meanwhile, WTI crude lost 2.1% to trade at $75.20 per barrel after the manufacturing report showed that April Manufacturing Purchasing Managers Index (PMI) clocked in at 47.1 percent,…

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