Fell more than 8%, Oil Stop Rally 3 day streak

Poor manufacturing data on a global scale makes crude demand outlook becomes increasingly bleak, crude oil prices fell back on Tuesday, halting a three-day rally during the streak.

The second largest oil consumer in the world, China, reported a decline in manufacturing activity to 49.7 in August from 50.0 in the previous month of July. The figure 49.7 shows contraction and the lowest level in the last three years. Meanwhile Caixin version manufacturing activity index fell to its lowest level in six years in August.

From the United States, the Institute for Supply Management (ISM) reported the US manufacturing activity index fell to 51.1 from 52.7 in July. Figures in August, the lowest level since May 2013.

Post-closure of the spot market, crude oil futures worsened after the American Petroleum Institute reported US oil inventories rose 7.6 million barrels in the week ended August 28. The big rise beyond the forecast of analysts surveyed by Platts that provide estimates of a decline of 800,000 barrels.

WTI crude oil on Tuesday, down more than 8%, and ended at the level of $ 44.18 per barrel, with a $ 48.84 daily tetringgi level, and the lowest was $ 44.15