Crude oil futures were trading lower in mid-morning trade in Asia June 10 on profit-taking after an overnight spike as the market awaited the release of weekly US inventory data for fresh cues on price direction. At 10:10 am Singapore time, ICE Brent August crude futures were down 42 cents/b (1.02%) from the June 9 settle at $40.76/b, while the NYMEX July light sweet crude contract was 55 cents/b (1.41%) lower at $38.39/b. “Brent rose 0.9% to $41.18/b yesterday [June 9], but has erased all the gains in early Asian trading… this morning’s decline may have been a response to the increasing risk-off sentiment taking hold across global asset markets,” OCBC analysts said a note June 10. A short-term energy outlook released June 9 by the US Energy Information Administration estimated that global oil demand […]