Crude oil futures ended lower on Tuesday as lower-than-expected industrial production and retail sales data from China raised the concerns about the outlook for energy demand. the National Bureau of Statistics said China’s industrial production posted an annual growth of 5.6% in April, faster than the 3.9% increase in March. However, the pace of expansion was weaker than street forecast of 10.9%. At the same time, retail sales growth accelerated sharply to 18.4% in April from 10.6% in March. Still, the rate missed expectations for a 21% increase. Though, down side remained capped amid a somewhat subdued U.S. dollar, and supply concerns due to wildfires in Canada.
Benchmark crude oil futures for June delivery declined $0.25 or about 0.4 percent to settle at $70.86 a barrel on the New York Mercantile Exchange. Brent crude for July delivery fell $0.32 or 0.4 percent to settle at $74.91 a barrel on London's Intercontinental Exchange.