Crude prices slipped in Asian trade Tuesday as slumping manufacturing output in the world’s major economies weighed on markets, analysts said. New York’s main contract, light sweet crude for August delivery, retreated 17 cents to $83.58 a barrel and Brent North Sea crude for delivery in August shed six cents to $97.28. Weak manufacturing data from key global economies led to concerns among traders of a corresponding erosion in energy demand, IG Markets said in a report. “Faltering manufacturing output across the world’s biggest economies spooked some investors,” it said. “The US, China, Japan and Europe are all seeing their lowest levels for up to three years.”
