Crude oil futures were largely stable in mid-morning trade in Asia Wednesday amid cautious optimism after a price rally overnight. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:10 am Singapore time (0210 GMT), ICE Brent July crude futures were up 8 cents/b (0.26%) from Tuesday’s settle at $31.05/b, while the NYMEX June light sweet crude contract was 1 cent/b (0.04%) higher at $24.57/b. ICE Brent July settled up $3.77/b day on day at $30.97/b overnight Tuesday, while the NYMEX June contract settled $4.17/b higher at $24.56/b. “Despite the move higher in both oil and equity markets overnight, traders remain extremely cautious at current levels,” AxiCorp’s chief market strategist Stephen Innes said in a note Wednesday. “The virus situation remains extremely fluid, while heightened US-China tensions are taking their toll on sentiment,” he added. An easing of lockdowns and more […]