Crude oil futures were rangebound to slightly higher during the mid-morning trade in Asia March 19, as investors looked for a bargain following the panic selling that saw prices plummet overnight. At 10:51 am Singapore time (0251 GMT), the ICE Brent May contract was up 6 cents/b (0.09%) from the March 18 settle at $63.34/b, while the April NYMEX light sweet crude contract rose 5 cents/b (0.08%) to $60.05/b. Market analysts attributed the rise in oil prices this morning to investors seeking to capitalize on the overnight selloff, which saw the Brent and NYMEX light sweet crude markers fall to $63.28/b and $60.00/b, a correction of 6.94% and 7.12%, respectively. “It is natural to see some bargain hunting coming in this morning after the massive slump in prices overnight, and oil prices may […]