Crude oil futures rose during midmorning Asia trading Dec. 10 as COVID-19 vaccine momentum kept the market afloat amid a host of bearish developments, including a data release from the US Energy Information Administration that showed large increases in both crude and product inventories. At 11:14 am Singapore time (0314 GMT), the ICE February Brent contract was up 24 cents/b (0.49%) from the Dec. 9 settle at $49.10/b while the NYMEX January light sweet crude contract was up 31 cents/b (0.68%) at $45.83/b. Both markers remained rangebound Dec. 9, with the ICE February Brent contract rising 0.04% and the NYMEX January light sweet crude contract falling 0.18%. The market seems to have largely overlooked bearish data from the EIA, which showed a 15.19 million-barrel build in crude inventories in the week ended Dec. […]