Crude oil futures were steady to lower in mid-morning trade in Asia July 16 after a sharp drop in US crude inventories supported prices overnight, even as OPEC+ agreed to ease production cuts from August. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:50 am Singapore time (0250 GMT), ICE Brent September crude futures were down 27 cents/b (0.62%) from the July 15 settle at $43.52/b, while the NYMEX August light sweet crude contract was down 33 cents/b (0.80%) at $40.87/b. US commercial crude inventories plunged 7.5 million barrels to 531.7 million barrels for the week ended July 10, outpacing the 2.1 million-barrel drop expected by analysts and narrowing the surplus to the five-year average to 16.6%, US Energy Information Administration data released July 15 showed. US gasoline stocks fell 3.1 million barrels over the same period to 248.5 million […]