Crude oil futures were stable during mid-morning trade in Asia Thursday after an overnight rally that saw both benchmarks rise to four-month highs on the release of bullish US crude stocks data. At 10:45 am Singapore time (0215 GMT), ICE May Brent crude futures were unchanged from Wednesday’s settle at $68.50/b, while the new NYMEX May light sweet crude contract was 8 cents/b (0.13%) lower at $60.15/b, but still above the psychological $60/b mark. Data released late Wednesday by the US Energy Information Administration showed a larger-than-expected 9.59 million-barrel fall in US commercial crude inventories in the week ended March 15 to 439.48 million barrels. Analysts surveyed Monday by S&P Global Platts had been expecting a 1 million-barrel build. The draw pushed inventories to a nine-week low, and to 1.6% below the five-year average. This […]