Weak Global PMI Pressured OIl Further

Crude oil prices slumped, extending the recent downtrend as Iran seeks to boost production faster than previously expected and global PMI data surprised to the downside. The front-month WTI contract fell for the 5th consecutive day, losing -2.12% to settle at 47.12.

from Oil N' Gold Focus http://ift.tt/1M8YxBl