Crude oil futures were lower in midmorning trade in Asia Tuesday as market participants pointed out that despite mounting tensions between the US and Iran, there was no immediate threat to oil supply. At 9:51 am Singapore time (0151 GMT), the front-month March ICE Brent crude futures was down 46 cents/b (0.67%) from Monday’s settle at $68.45/b, while the NYMEX February light sweet crude contract was 43 cents/b (0.68%) lower at $62.84/b. “The oil market is not going to see higher oil prices until we see a definitive supply disruption,” OANDA senior market analyst Edward Moya said. “Until we have that, I think prices are going to continue to come off this recent rally,” Moya added. “For crude prices, the crux of the issue lies with supply as the operations around the Straits of Hormuz […]