Crude oil futures retreated from recent highs during mid-morning trade in Asia Tuesday as China lowers its economic growth target for 2019. At 10:25 am Singapore time (0949 GMT), ICE May Brent crude futures were down 26 cents/b (0.4%) from Monday’s settle at $65.41/b, while the NYMEX April light sweet crude contract moved 20 cents/b (0.35%) lower to $56.39/b. According to media reports, Premier Li Keqiang said in his annual report to the National People’s Congress early Tuesday that the target expansion for the country’s gross domestic product in 2019 was set at a range of 6% to 6.5%. Last year’s target was about 6.5%. “This [Tuesday] morning saw the trickling in of information on China’s growth target, which had now been set at an expectedly lower range of between 6.0% to 6.5%,” IG market […]