Oil futures took a breather from a selloff in Asian trade Friday as investors sought for signs of tighter supply that could stem further declines in oil prices. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at $46.56 a barrel at 0419 GMT, up $0.31 in the Globex electronic session. March Brent crude on London’s ICE Futures exchange rose $0.25 to $48.52 a barrel. Oil prices had fallen again in the last trading session, with Nymex WTI crude now down by around 13% year-to-date and Brent crude down by around 17%. James Hubbard, head of Asian oil and gas research at Macquarie Group, said that prices below $40 a barrel would make it difficult for producers to break even, prompting them to begin limiting production. “Once WTI goes below $40 a barrel and thereabouts you’ll start to see headlines […]