Crude-oil futures fell in early Asian trade Thursday reversing overnight gains on weak China trade data and rising U.S. oil supply. On the New York Mercantile Exchange light, sweet crude futures for delivery in May traded at $103.31 a barrel at 0446 GMT–down $0.29 in the Globex electronic session. May Brent crude on London’s ICE Futures exchange fell $0.41 to $107.57 a barrel. China’s total exports fell 6.6% year over year in March, data from the General Administration of Customs showed Thursday. A median forecast predicted 4.2% growth. Imports also fell 11.3%–missing a median forecast for a 2.8% increase. “China is the world’s second-largest oil consumer after the U.S. The weak exports highlighted a possible further contraction in the nation’s manufacturing sector and exacerbating slowdown thereby trimming demand prospects for crude oil,” analyst Tan Chee Tat at Phillip Futures said. China’s crude-oil imports also fell 8% […]