Crude oil futures were steady in mid-morning trade in Asia May 21 after an overnight selloff driven by increased anxiousness over the restoration of the Joint Comprehensive Plan of Action with Iran. At 11:05 am Singapore time (0305 GMT), the ICE Brent July contract was up 1 cent/b (0.02%) from the May 21 settle at $65.12/b, while the July NYMEX light sweet crude contract was up 14 cents/b (0.23%) at $62.08/b. The stability followed an overnight plunge, with the market struggling to find direction momentum in early May 21 trade. “Following highly volatile days, it is often the case early in Asia that the market does not really hold a clue to the direction oil prices should take,” Vandana Hari, CEO of Vanda Insights, told S&P Global Platts May 21. Oil prices have […]