Crude-oil futures were rangebound in Asian trade Tuesday as markets await this week’s energy agency reports for a fresh assessment of global oil supply and demand balances. On the New York Mercantile Exchange, light, sweet crude futures for delivery in April traded at $50.13 a barrel at 0441 GMT, up $0.13 in the Globex electronic session. Brent crude for April delivery on London’s ICE Futures exchange rose $0.04 to $58.57 a barrel. The oil benchmarks had diverged overnight, with Nymex West Texas Intermediate crude gaining 0.8% in the last trading session and Brent crude losing 2%. Nymex crude was supported by an industry report that indicated a slower increase in U.S. oil supply, while Brent crude has sagged toward the bottom of its recent trading range ahead of the expiry of the April futures contract next Monday, according to Citi Futures. The market is polarised regarding […]