Crude-oil futures were rangebound in Asian trade Wednesday with investors on the sidelines as attention remains firmly fixed on the OPEC meeting and the Iran nuclear negotiations next week. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at $74.09 a barrel at 0459 GMT, down $0.52 in the Globex electronic session. January Brent crude on London’s ICE Futures exchange fell $0.06 to $78.41 a barrel. Morgan Stanley said oil markets are so obsessed with the upcoming meeting of the Organisation of the Petroleum Exporting Countries that they have shaken off a number of positive developments on several fronts including fundamental, financial and OPEC-related news. For example, Libyan oil production has disappointed of late with more signs of trouble and China’s crude processing volumes were strong in October despite much lower imports, the bank said. Supportive news headlines aren’t the […]