Crude oil futures declined on Monday in reaction to raising concerns over euro zone stability and slower economic data from China. Both factors made investors question the global demand outlook of the oil. However there was some positive news rumoring in the market too that International Monetary Fund has increased its lending capacity to safeguard the euro zone crisis, still it didn’t help much to boost the commodities.

As per latest economic data from China, the business activity declined, though HSBC Chinese manufacturing Purchasing Manger’ Index gained to 49.1 but remained below than 50 which depicts contraction rather than expansion.

Crude oil futures contract for June delivery fell 0.7 percent or $0.77 to settle at $103.11 per barrel on the New York Mercantile Exchange.

Stronger greenback also pressurized the oil as the dollar index DXY which tracks the US dollar’s performance against its major rivals gained to 79.415 on Monday as compared to 79.140 on Friday’s late trading hours.

Among other energy commodities, gasoline futures contract for May delivery gained 1.4 percent or $0.04 to settle at $3.19 per gallon while heating oil futures for the same month slightly gained by 0.1 percent to $3.14 per gallon.

Natural gas futures contract for May delivery jumped 4.2 percent or $0.08 to settle at $2 per million British thermal units. Natural gas reached its lowest in 10 years in the last week.