Crude prices ended slightly lower on Tuesday after an economic report predicted slowing growth in the U.S. economy.
The Institute for Supply Management, a trade group of purchasing executives, said its index tracking service-oriented companies dipped to 53.8 last month from 55.4 in May.
The report also said employers' plans to hire declined in June after growing in May for the first time in 28 months.
Light, sweet crude for August delivery fell 16 cents to settle at 71.98 U.S. dollars a barrel on the New York Mercantile Exchange after rising as high as 73.86 dollars in early sessions.
In London, Brent crude lost 2 cents to settle at 71.45 dollars a barrel on the ICE Futures exchange.
The Institute for Supply Management, a trade group of purchasing executives, said its index tracking service-oriented companies dipped to 53.8 last month from 55.4 in May.
The report also said employers' plans to hire declined in June after growing in May for the first time in 28 months.
Light, sweet crude for August delivery fell 16 cents to settle at 71.98 U.S. dollars a barrel on the New York Mercantile Exchange after rising as high as 73.86 dollars in early sessions.
In London, Brent crude lost 2 cents to settle at 71.45 dollars a barrel on the ICE Futures exchange.
