Crude oil futures recovered in mid-morning trade in Asia Thursday following news of a Cushing Hub pipeline spill, but bearish market drivers continue to cap the uptick. At 11:45 am Singapore time, ICE December Brent crude futures was 22 cents/b (0.36%) higher at $60.83/b, while the NYMEX December light sweet crude contract was up 14 cents/b (0.25%) at $55.20/b. “Oil prices have caught a bid after a pipeline that feeds the Cushing Hub ruptured, indeed this will offset some of that inventory swell,” Stephen Innes, AxiTrader’s Asia Pacific market strategist said. The 590,000 b/d Keystone Pipeline had shut following a spill in North Dakota, S&P Global Platts reported previously. The spill occurred overnight, at around 9:20 pm MST in northeast North Dakota in Walsh County, Karl Rockeman, a director at North Dakota Department of Environmental Quality, said. State officials and emergency responders in North Dakota […]