Crude oil futures moved higher during mid-morning trade in Asia Thursday on mild bargain-hunting after Wednesday’s sell-off that saw markers fall by more than $2/b, while analysts warned that supply concerns persist although immediate risk has cooled. At 10:48 am Singapore time (0248 GMT), the front-month March ICE Brent crude futures rose 51 cents/b (0.78%) from Wednesday’s settle at $65.95/b, while the NYMEX February light sweet crude contract was 52 cents/b (0.87%) higher at $60.13/b. On Wednesday, both international benchmarks lost more than 4% during Wednesday’s trading session as US President Donald Trump appeared to soften his stance toward Tehran, reducing the risk of an immediate US response to Iranian missile strikes on US bases in Iraq overnight. “Iran appears to be standing down, which is a good thing for all parties concerned and a […]