June crude oil prices traded lower throughout the overnight and early morning hours, pressured by a weak outside market tone and growing concerns over an economic slowdown. This comes after preliminary Chinese manufacturing data contracted for the sixth consecutive month and German and European PMI figures also disappointed. Additionally, there were renewed Eurozone debt concerns out of the Netherlands, which also seemed to contribute to the early risk adverse tone. The latest trade figures showed China's crude oil demand up by more than 3.0% compared to year ago levels, but the weakest since November. The Commitments of Traders Futures and Options report as of April 17th showed non-commercial traders were net long 288,393 contracts, an increase of 11,120. Non-commercial and nonreportable traders combined held a net long position of 306,874 contracts, for a slight decrease on the week. Money managers were active buyers during the report week, with prices climbing back toward the $106.00 level.