Crude oil futures slid during mid-morning trade in Asia Friday amid expectations that the supply void from Iran will be filled by other key crude oil producers, Saudi Arabia and the US. At 10:22 am Singapore time (0222 GMT), the July ICE Brent crude oil futures slipped 16 cents/b (0.20%) from Thursday’s settle to $70.59/b, while the NYMEX June light sweet crude contract moved 3 cents/b (0.05%) lower to $61.78/b. Thursday’s settlements for both ICE Brent and NYMEX crude were the lowest in almost a month, according to S&P Global Platts data. “Oil prices fell to the lowest in a month as markets saw the US, Russia and Saudi Arabia filling the gap by Iran just as sanctions waivers on Iranian oil exports expired on Thursday,” UOB analysts wrote in a report on Friday. The […]