Crude oil futures were rangebound in midmorning trade in Asia July 2 after rising overnight on a draw down of US commercial crude inventories, even as a resurgence of COVID-19 cases weighed on market sentiment. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:54 am Singapore time (0254 GMT), ICE September Brent crude futures were unchanged from the July 1 settle at $42.03/b, while the NYMEX August light sweet crude contract was down 2 cents/b (0.05%) at $39.80/b. US commercial crude stocks decreased as refinery demand continued to recover and imports declined, the US Energy Information Administration data showed July 1. Commercial crude inventories fell 7.19 million barrels at 533.53 million barrels in the week ended June 26, EIA said, leaving stockpiles around 15% above the five-year average for this time of the year. The data released was slightly lower […]