Crude oil futures fell further during mid-morning trade in Asia June 18, extending overnight losses, as risk aversion gripped the market after hawkish signals from the US Federal Reserve, even as the global demand recovery narrative remained intact. At 10:50 am Singapore time (0250 GMT), the ICE August Brent futures contract was down 64 cents/b (0.88%) from the previous settle at $72.44/b, while the NYMEX July light sweet crude contract was 56 cents/b (0.79%) lower at $70.48/b. The Brent and the NYMEX light sweet crude markers had fallen 1.76% and 1.54% overnight to close at $73.08/b and $71.04/b respectively, halting the recent dizzying rally. Vandana Hari, CEO of Vanda Insights, told S&P Global Platts on June 18 that the downturn in prices comes as the market consolidates after recent gains, and was triggered by a […]