Oil futues slid early Wedesday, weighed by worries over the global economic recovery, as recent data pointed to a fourth month of weakness in China's factory sector.
Cautious sentiment was evident in early hours of trade on the energy markets in this shortened week trade, with concerns of slowdown in the world's top oil consuming nation returning to the the spotlight and weighing on the risk appetite in Asia, after China's HSBC said the flash reading of its Purchasing Managers' Index rose modestly to 48.3 from March's 48.0.
The data suggests the China's manufacturing sector is yet to suffer another month of contraction for the fourth consecutive month.
Although the rise halted a stretch of declines for the data since last October, the data pointed to another month of contraction.
As of 02:35 a.m. ET:
West Texas Intermediate for June delivery fell 16 cents to $101.59 a barrel on the New York Mercantile Exchange.
Also on NYMEX, Natural Gas traded flat at $4.729 per British thermal untis
In London, Brent Crude lost 10 cents to $109.18 a barrel.
Growing uncertainty about the Ukraine crisis has kept losses in check, while news reports continue to underline the lingering tension between Russia and Western governments over fresh sanctions.
Meanwhile, the market anticipated a fresh round of PMI data from the euro area biggest nations. The Bank of England will also release the minutes from April meeting.