On the New York Mercantile Exchange, light, sweet crude futures for delivery in April traded at $98.18 a barrel at 0536 GMT, down $0.02 in the Globex electronic session. April Brent crude on London’s ICE Futures exchange rose $0.18 to $107.57 a barrel. Worries over an economic slowdown in China have pressured industrial commodity prices and wider financial markets this week but the impact on oil has been limited by tensions in Ukraine and Libya. “While a weaker macro outlook would certainly reverberate in the oil market, Chinese demand is still supported by steady activity and a rise of new refining capacity,” analyst Sijin Cheng at Barclays said in a note. She said China’s implied oil demand contracted 3.1% on-year in the first two months of 2014 to 9.97 million barrels a day, but imports also surged on stockpiling for new refineries and strategic reserves. Meanwhile, the U.S. is […]