Crude-oil futures remained weak in Asian trade Thursday, struggling to recover from sharp losses in the previous trading session on the back of bearish supply data, and with uncertainty still surrounding the debt crisis in Greece. On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at $57.03 a barrel at 0314 GMT, up $0.07 in the Globex electronic session. August Brent crude on London’s ICE Futures exchange rose $0.25 to $62.26 a barrel. There is no fundamental case for strength in oil and the market’s weakness largely stems from oversupply, with estimates showing production from the Organization of the Petroleum Exporting Countries trending 6% higher than a year earlier at more than 32.1 million barrels a day, analyst Tim Evans at Citi Futures said. He said it is pretty clear that supply is outpacing demand. “Our overall conclusion is that […]