Crude oil futures extended their overnight gains during mid-morning trade in Asia Jan. 7, as the oil market priced in a massive decline in crude inventories reported by the Energy Information Administration, while expectations of further US fiscal stimulus and a weaker US dollar seen in the wake of the Democrats winning the Georgia Senate runoff elections lifted sentiment. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 11:18 am Singapore time (0318 GMT), the ICE Brent March contract rose 37 cents/b (0.68%) from the Jan. 6 settle to $54.67/b, while the February NYMEX light sweet crude contract was up 37 cents/b (0.73%) at $51.06/b. Both markers had jumped 1.31% and 1.40% on Jan. 6 to settle at $54.30/b and $50.63/b, respectively. The EIA data released on Jan. 6 showed that US commercial crude inventories had declined 8.01 million barrels to […]