Crude oil futures slipped during midmorning trade in Asia June 10 on the back of a large build in US product inventories, which cast a shadow of doubt on the optimism surrounding summer driving demand in the region. At 10:38 am Singapore time (0238 GMT), the ICE August Brent futures contract was down 65 cents/b (0.90%) from the previous settle at $71.57/b while the NYMEX July light sweet crude contract was down 61 cents/b (0.87%) at $69.35/b. The Energy Information Administration reported a 5.2 million-barrel draw in US crude oil inventories in the week ended June 4 amid high refining run rates, but market sentiment was bogged down by a large build of 7 million barrels in gasoline stocks and a 4.4 million-barrel build in distillate inventories over the same period. In the week ended […]