Crude oil futures were lower in mid-morning Asian trade Feb. 8, easing off multi-year highs as a seven-week long bull-run appeared to lose steam, though market watchers were in consensus that the rally still had legs to run. At 10:40 am Singapore time (0240 GMT), the ICE April Brent futures contract was down 12 cents/b (0.13%) from the previous close at $92.57/b, while the NYMEX March light sweet crude contract fell 5 cent/b (0.05%) at $91.27/b. The front-month ICE Brent crude contract had traded as high as $94/b during intraday trading Feb. 7, a level last seen on Oct. 3, 2014, though profit-taking saw it shed gains to settle 0.6% lower. Analysts said the outlook for crude prices remained pointed to the upside, with supply still running short of demand globally. “The rally in crude was […]