Crude oil futures were mostly steady in mid-morning trade in Asia June 24 after shedding early morning gains as sentiment remained fragile following steep declines in the last two sessions. At 10:30 am Singapore time (0230 GMT), the ICE August Brent futures contract was down 10 cents/b (0.09%) from the previous close at $109.95/b, while the NYMEX August light sweet crude contract rose 12 cents/b (0.12%) at $104.39/b. Both crude oil markers were on track to post their second weekly decline, having lost around 10% in value over the last two weeks as recession fears sparked several rounds of steep daily falls. While analysts are not ruling out further declines, some noted that crude oil prices should nonetheless remain supported above $100/b as oil market fundamentals remain supportive despite larger macroeconomic weakness. “The oil market remains very tight and declining production should prevent prices from falling below the $100/b […]