Crude oil futures edged higher during mid-morning trade in Asia Jan. 27, spurred by bullish data from the American Petroleum Institute and an improved pandemic outlook in the US, even as demand-side uncertainties owing to the progression of coronavirus elsewhere continued to weigh on sentiment. At 10:55 am Singapore time (0255 GMT), the ICE Brent March contract was up 11 cents/b (0.20%) from the Jan. 26 settle to $56.02/b, while the March NYMEX light sweet crude contract was up 11 cents/b (0.21%) at $52.72/b. The uptick comes as data from the American Petroleum Institute released Jan. 26 showed a massive 5.27 million-barrel draw in crude inventories in the week ended Jan. 22. Analysts, in contrast, had told S&P Global Platts that they had expected the draw in the same week to be much […]