Oil futures gave up early gains to trade near three-month lows on Friday on a persistent supply glut that has cut prices by up to 13 percent since the start of November. U.S. crude West Texas Intermediate (WTI) dipped 11 cents to $40.43 a barrel as of 0731 GMT, after edging up in earlier trades. It ended down 21 cents at $40.54 on Thursday, after dipping to $39.89 during the previous session, its lowest since Aug. 27. Front-month Brent futures for January lost 6 cents to $44.12 a barrel, after finishing up just 4 cents on Thursday at $44.18. “Oil markets are really moving range bound … mainly because fundamentals have yet to change,” said Daniel Ang, an investment analyst at Phillip Futures Pte Ltd. “Markets are a bit fearful that […]