Crude oil futures were higher during mid-morning trade in Asia Wednesday after a reported draw in weekly US crude inventory data, while the decisions by OPEC and its allies to extend their production cut agreement also added support. At 10:30 am Singapore time (0230 GMT), front-month ICE Brent September futures were up 47 cents/b (0.75%) from Tuesday’s settle at $62.87/b, while the NYMEX August light sweet crude futures contract was 35 cents/b (0.62%) higher at $56.60/b. According to analyst reports quoting American Petroleum Institute data released Tuesday, US crude stocks fell 5 million barrels in the week ended June 28. Analysts surveyed Monday by S&P Global Platts were looking for US crude stocks to have declined 3.7 million barrels to 465.9 million barrels in the week. They also expected US gasoline stocks to have […]