Crude oil futures were rangebound in mid-morning trade in Asia Sept. 11 after the US Energy Information Administration reported an unexpected build in US commercial crude inventories after six weeks of declines and the coronavirus pandemic continued to cloud the global macroeconomic outlook. At 09:28 am Singapore time (0128 GMT), ICE Brent November crude futures were down 9 cents/b (0.22%) from the Sept. 10 settle at $39.97/b, while the NYMEX October light sweet crude contract was 1 cent/b (0.03%) lower at $37.29/b. “US and global crude oil prices fell on Thursday [Sept. 10] after US government data showed US domestic crude inventory increased for the first time since mid-July amidst wavering gasoline demand, with inventories at Cushing, Oklahoma rising to the highest since May and US crude production increased slightly,” UOB analysts said […]