Crude oil futures fell on Thursday as the World Bank cut its global economic growth forecast, ending a two-day rally triggered by a sharp U.S. inventory drawdown. In its twice-yearly Global Economic Prospects report, the World Bank predicted the global economy would expand 2.8 percent this year, below its 3 percent outlook in January, with India recording the biggest growth of major economies for the first time, ahead of slowing China. Front-month Brent crude oil prices were down 11 cents at $65.59 a barrel by 0306 ET, while U.S. crude shed 25 cents to trade at $61.18 a barrel. “Considering China’s economic slowdown, we lean towards lower prices today,” said Daniel Ang, an analyst at Singapore-based Phillip Futures. In South Korea, the world’s No.5 importer of crude oil, the central bank cut its policy rate by 25 basis points to a record-low 1.50 percent in a bid to […]