Crude oil futures continued on an upward trajectory during mid-morning trade in Asia Feb. 4, as the abatement of the pandemic situation and simmering hopes over a US stimulus package provided a boost to oil markets already invigorated by an uptick in demand and the start of Saudi Arabia’s output cut. At 11:11 am Singapore time (0311 GMT), the ICE Brent April contract was up 44 cents/b (0.74%) from the Feb. 4 settle to $59.28/b, while the March NYMEX light sweet crude contract was up 40 cents/b (0.71%) to $56.63/b The bullish step in the oil market comes amid signs that the pandemic is starting to ease globally, with expectations of a colossal US stimulus package also inspiring confidence among investors that the economic climate will soon improve. “There are a number of […]