Crude oil futures rose during mid-morning trade in Asia Sept. 16 as sentiment was boosted by better-than-expected economic data from the US and China. At 10:41 am Singapore time (0300 GMT), ICE Brent November crude futures were up 48 cents/b (1.18%) from the Sept. 16 settle at $41.01/b, while the NYMEX October light sweet crude contract was 54 cents/b (1.41%) higher at $38.82/b. “A string of better-than-expected economic data from the world’s two largest oil consumers, the US and China, fanned optimism that the economic recovery was outpacing forecasts, triggering a bump in the current slump, which sent oil prices to their highest level in over a week,” Stephen Innes, chief global markets strategist at AxiCorp, said in a Sept. 16 note. Oil prices had moved higher overnight following a larger than […]