Oil prices resumed their downward trajectory in Asian trade on Friday following weak Chinese manufacturing data, as markets remain jittery due to concerns about global economic growth. U.S. oil prices reversed overnight gains pressured by rising supply levels and are still vulnerable to falling below the key psychological price level of $40 a barrel. On the New York Mercantile Exchange, light, sweet crude futures for delivery in October recently traded at $40.80 a barrel, down $0.52 in the Globex electronic session. October Brent crude on London’s ICE Futures exchange fell $0.52 to $46.10 a barrel. Early Friday, the preliminary Caixin China Manufacturing Purchasing Managers’ Index, a gauge of nationwide manufacturing activity, fell to a 77-month low in August to 47.1, compared with a final reading of 47.8 in July. “Today’s weaker-than-expected PMI will add to […]