Crude oil futures declined on Thursday as the US stock indexes fell and manufacturing activity in Philadelphia disappointed the investors. The Philadelphia Federal Reserve’s manufacturing index declined to -5.8 in the month of May as compared to positive figure of 8.5 in April. The last negative reading for the index came in September last year. Analysts were hoping the index to increase to 10 points. The US Labor Department also released its report which showed that jobless claims for the week ending May 12^th, remained unchanged at 370,000. The weaker US economic data created worries amongst investors.

Crude oil futures contract for June delivery fell 0.3 percent or $0.25 to settle at $92.56 per barrel on the New York Mercantile Exchange. Crude oil has declined 4.7 percent in last five trading session on Thursday touched its lowest since November 2^nd, 2011.

The stronger US dollar also kept the crude oil under pressure as higher dollar makes commodities expensive for investors holding foreign currencies. The dollar index DXY which tracks the greenback’s performance against its major rivals gained to 81.479 on Thursday as compared to 81.359 on Wednesday’s North American trading session.

Among other energy commodities, gasoline futures contract for June delivery fell 1.5 percent or $0.04 to settle at $2.88 per gallon while heating oil futures for the same month slipped 1.7 percent or $0.05 to $2.85 per gallon.

Natural gas futures contract for June delivery dropped 0.9 percent or $0.02 to settle at $2.59 per million British thermal units. EIA also released its data on natural gas supplies according to which natural gas inventories increased by 61 billion cubic feet for the week ending May 11^th while analysts were expecting an increase of 52 to 56 billion cubic feet for the respective period.