Crude oil futures rose in mid-morning trade in Asia Tuesday amid heightened concerns over supply uncertainties after the US announced that it would not extend waivers to Iranian sanctions after they expire next month. At 10:59 am Singapore time (0359GMT), ICE June Brent crude futures were up 34 cents/b (0.46%) from Monday’s settle at $74.38/b, while the NYMEX June light sweet crude contract was 34 cents/b (0.52%) higher at $65.89/b. Crude had settled at six-month highs Monday following the White House announcement, with ICE June Brent settling at $74.04/b and NYMEX May WTI at $65.70/b. “As noted, over and above OPEC and company’s curb in supply, the Trump administration’s surprise tightening of ban on Iranian oil has provided crude oil prices with further upside impetus,” IG’s market strategist Jingyi Pan said. The White House’s announcement […]