Crude oil futures were lower during mid-morning trade in Asia Thursday, retreating from overnight highs, where both benchmark contracts had jumped by more than $3/b. Latest comments made by Russia on OPEC’s production cut agreement also weighed prices down, analysts said. At 11:00 am in Singapore (0300 GMT), ICE Brent December futures fell 42 cents/b (0.69%) from Wednesday’s settle to $60.75/b, while the new front-month NYMEX December light sweet crude futures contract was 50 cents/b (0.89%) lower at $55.47/b. Crude prices rose by more than $1/b during Wednesday’s trading session after the US Energy Information Administration on Wednesday reported that US crude inventory had fallen by 1.7 million barrels to 433.15 million barrels. “The market had been expecting a rise,” ANZ analysts said in a note Thursday. Analysts surveyed Monday by S&P Global Platts were looking for US crude stocks to have increased by 4.7 million barrels […]