Singapore — Crude oil futures moved sideways in mid-morning trade in Asia Wednesday, as investors adopted a risk-off mood and waited on the sidelines after the International Monetary Fund downgraded its 2019 global growth forecast for the second time this year. At 10:50 am Singapore time (0250 GMT), ICE June Brent crude futures were up 2 cents/b (0.03%) from Tuesday’s settle at $70.63/b, while the NYMEX May light sweet crude contract was 10 cents/b (0.16%) higher at $64.08/b. The IMF has revised its global growth forecast for 2019 down by 0.2 percentage points from its January projections to 3.3%, highlighting that the global economy now faces a “delicate moment.” In its World Economic Outlook report published Tuesday, the IMF said: “Although a 3.3% global expansion is still reasonable, the outlook for many countries is very challenging, with […]