¬†Crude oil futures saw a modest upswing in mid-morning Asian trade on Thursday, despite a significant drawdown in US crude oil inventories, as US-China trade concerns continue to overshadow sentiment across global markets.¬† The July NYMEX light sweet crude futures contract led the rise, pulling up 26 cents/b from Wednesday’s settle of $58.81/b to $59.07/b as of 11:00 am Singapore time (0300 GMT). July ICE Brent futures lagged behind the WTI proxy, moving up 15 cents/b from Wednesday’s settle of $69.45/b, at $69.60/b as of 0300 GMT. The American Petroleum Institute reported a draw of 5.265 million barrels of crude oil from US inventories for the week ending May 24, analysts reports seen by S&P Global Platts showed Thursday morning. The API released its data late Wednesday. Despite being the first drawdown on crude stocks […]