Crude oil futures declined in mid-morning trade in Asia Jan. 28, despite a fall in US inventories, as worries over global growth recovery came back to the fore after the International Monetary Fund warned on financial stability risk from vaccine shortages. At 11:36 am Singapore time (0336 GMT), the ICE Brent March contract was down 27 cents/b (0.48%) from the Jan. 27 settle to $55.54/b, while the March NYMEX light sweet crude contract dropped 22 cents/b (0.42%) to $52.63/b. The oil market participants grew concerned over slow vaccine distribution and vaccine shortages, which a report by the IMF warned could threaten financial stability. Fears of insufficient supply also exacerbated, as AstraZeneca’s coronavirus vaccine shortage caused by production delays was met with insistence by the European Union to honor delivery commitments. “Oil is down […]