Crude-oil prices largely stayed put in early Asian trade Thursday as traders await the outcome of a meeting of the Organization of the Petroleum Exporting Countries later in the day, where discussion on a collective output ceiling could be revived. On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at $48.93 a barrel at 0204 GMT, down $0.08 in the Globex electronic session. August Brent crude on London’s ICE Futures exchange rose $0.05 to $49.77 a barrel. Ahead of the closely-monitored meeting in Vienna, which is scheduled to begin at 0800 GMT, several delegates said the group could discuss a production ceiling , an idea that Saudi Arabia is considering backing. However, Iran later rejected the proposal, potentially derailing the plan. Talks about a ceiling represent a return to OPEC’s traditional way of doing business. In recent months, failed discussions have centered on […]