Crude oil futures edged up during midmorning trade in Asia on April 13 on bullishness due to improved economic prospects, even as the market remains weighed down by the possibility of more OPEC+ supply and rising COVID-19 infections. At 11:14 am Singapore time (0314 GMT), the ICE June Brent contract was 35 cents/b (0.55%) higher than the April 12 settle at $63.63/b while the NYMEX May light sweet crude contract was up 31 cents/b (0.52%) at $60.01/b. Oil prices have been hovering near the $63/b mark since the week ended April 10 due to a tug of war between investors optimistic about increased oil demand on the back of a US-led global economic recovery, and investors wary of the impending increase in OPEC+ production quotas from May onward. “Oil prices have been rangebound lately, […]