Crude oil futures rose during the mid-morning trade in Asia March 15, as the market fell back on bullish macro fundamentals amid an absence of fresh cues. At 10:21 am Singapore time (0221 GMT), the ICE Brent May contract was up 68 cents/b (0.98%) from the March 12 settle to $69.90/b, while the April NYMEX light sweet crude contract also gained 68 cents/b (1.04%) to $66.29/b. Market analysts noted a lack of new drivers in the market this morning, adding that the rise in price is the result of the market buying into the narrative that an improved economic climate will push up oil demand. “There are no specific oil-related headlines that have come up this morning. The market just wants to buy the growth recovery trade, and oil is one of the […]