Crude oil futures were rangebound in mid-morning trade in Asia Feb. 10 as improving fundamentals for crude oil were weighed against concerns of an overheated market. At 10:34 am Singapore time (0234 GMT), the ICE Brent April contract was up 1 cent/b (0.02%) from the Feb. 9 settle at $61.10/b, while the March NYMEX light sweet crude contract was down 7 cents/b (0.12%) at $58.29/b. Crude oil prices continued to receive support from strengthening current and future demand as the coronavirus pandemic receded amid vaccine rollouts, with hopes of a swift economic recovery boosted by an impending US stimulus package, analysts said. “COVID infection numbers continue to fall, raising hope that fuel consumption will improve,” ANZ analysts said in a Feb. 10 note, adding that demand recovery was already visible with Chinese fuel […]