Crude oil futures traded marginally higher in mid-morning trade in Asia Thursday on easing supply glut concerns after latest EIA data showed a drawdown in US crude inventories.  At 10:05 am Singapore time (0205 GMT), ICE Brent July crude futures rose 12 cents/b (0.34%) from Wednesday’s settle at $35.87/b, while the NYMEX July light sweet crude contract was 5 cents/b (0.15%) higher at $33.54/b. US commercial crude stocks fell 4.99 million barrels to 526.49 million barrels last week, EIA data showed Wednesday, while crude output slipped to a 19-month low of 11.5 million b/d. “The EIA draw is an unambiguous reading and provides clear evidence of recovering US demand, a plunging US supply response but most likely a favorable combination of both,” AxiCorp chief global markets strategist Stephen Innes said in a note […]