Crude oil futures were stable to higher during mid-morning trade in Asia Wednesday after the American Petroleum Institute reported a larger-than-expected draw in US crude inventories and geopolitical tensions remained in focus ahead of the re-imposition of US sanctions on Iran. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:41 am Singapore time (0241 GMT), November ICE Brent crude futures were up 55 cents/b (0.70%) from Tuesday’s settle at $79.61/b, while the NYMEX October light sweet crude contract was 79 cents/b (1.14%) higher at $70.04/b. “The American Petroleum Institute figures for the week ended September 7 showed a much larger-than-expected 8.6 million barrels and WTI reacted positively,” OANDA’s head of trading Stephen Innes said. The draw exceeded analysts’ expectations of a 2.7 million-barrel draw in a survey by S&P Global Platts Tuesday. “Even Cushing, which everyone was fretting about early in the […]