Crude oil futures slipped during mid-morning trade in Asia June 7 as the market was waiting for pricing cues, although sentiment remained broadly supported by a rosy demand outlook from the west. At 11:08 am Singapore time (0308 GMT), the ICE Brent August crude contract was down 24 cents/b (0.33%) from the previous settle at $71.65/b, while the July NYMEX light sweet crude contract was down 26 cents/b (0.37%) at $69.36/b. Given the lack of fresh developments, investors will be eagerly anticipating OPEC’s and the International Energy Agency’s June Oil Market Reports, due to be released June 10 and June 11, respectively, to get a better sense of supply and demand fundamentals in the crude markets going forward. Some uncertainty over the supply-side has arisen in the oil market, after OPEC+ failed to provide any […]