Crude oil futures slipped in Asian mid-morning trade Tuesday, as ongoing trade tensions kept investor sentiment bearish amid a weaker demand outlook, analysts said. At 11:15 am Singapore time (0315 GMT), ICE Brent August futures were down 34 cents/b (0.55%) from Monday’s settle at $60.94/b, while the NYMEX July light sweet crude futures contract was 19 cents/b (0.36%) lower at $53.06/b. “Oil is extremely oversold, but the demand side risks support further weakness,” OANDA’s senior market analyst Edward Moya said. “Since the situation is tense with Mexico, the demand outlook is likely to get a massive downgrade if we do not see a quick resolution before the June 10 deadline,” Moya added. US President Donald Trump had threatened higher import tariffs on Mexican goods last week, which led to a selloff in the market. In […]