Crude oil futures were lower during mid-morning trade in Asia Thursday despite a draw reported in US crude stocks, as growing supply concerns elsewhere coupled with poor economic outlook continued to exert downward pressure on prices. At 11:00 am Singapore time (0300 GMT), ICE February Brent crude futures were down 62 cents/b (1.08%) from Wednesday’s settle at $56.62/b, while the new front-month NYMEX February light sweet crude contract moved 75 cents/b (1.56%) lower at $47.42/b. US crude supply declined for a third consecutive week amid continued strong export activity and robust refined product demand, US Energy Information Administration data showed Wednesday. For the week ended December 14, US crude stocks were down 497,000 barrels to 441.46 million barrels, EIA data showed. Analysts surveyed Monday by S&P Global Platts were looking for stocks to have declined […]