Crude oil futures rebounded in mid-morning trade in Asia Thursday, after front-month WTI sank overnight to settle at an 18-year low on Wednesday. Nevertheless, the outlook remains bearish amid a significant jump in supply following news that the US recorded its largest-ever build in crude stocks last week. At 10:33 am Singapore time (0233 GMT), ICE Brent June crude futures rose 92 cents/b (3.32%) from Wednesday’s settle at $28.61/b, while the NYMEX May light sweet crude contract was 59 cents/b (2.97%) higher at $20.46/b. “While Brent appears to have found a floor at around $25/b earlier, prices may well fluctuate just above, awaiting more positive signs of the coronavirus blowing away,” IG market strategist Pan Jingyi said in a note on Thursday. Front-month June ICE Brent futures settled $1.91/b lower on the day […]