Crude futures were higher in mid-morning trade in Asia Tuesday as the possibility of a joint US-Saudi oil alliance to stabilize prices emerged. At 09:46 am Singapore time (0146 GMT), ICE Brent May crude futures rose $1.18/b (4.37%) from Monday’s settle at $28.21/b, while the NYMEX May light sweet crude contract was $1.20/b (5.14%) higher at $24.56/b. Emerging talks of a possible alliance between the US and Saudi Arabia helped lift sentiment, analysts said. “Oil bulls continue to hold on to a glimmer of hope after US Energy Secretary Dan Brouillette said the possibility of a joint US-Saudi oil alliance is one idea under consideration to stabilize prices,” AxiCorp’s chief market strategist Stephen Innes said Tuesday. Oil futures also settled higher Monday against a backdrop of a weakened dollar, after the US Federal […]