Crude oil futures edged lower in mid-morning trade in Asia Nov. 23, paring modest gains notched overnight, as investors remained risk-averse despite recent comments by OPEC delegates that they could adjust their monthly output hike if governments choose to tap state oil reserves.  At 10:12 am Singapore time (0212 GMT), the ICE January Brent futures contract was down 15 cents/b (0.19%) from the previous close at $79.55/b, while the NYMEX January light sweet crude contract fell 31 cents/b (0.40%) to $76.44/b. “Crude is responding to news that the US is set to announce a coordinated SPR release later Tuesday,” said Vandana Hari, CEO of Vanda Insights. “But the sell-off is muted because the market will likely await the actual announcement, given the weeks of talk but no action from the White House. Also, if there is indeed […]