Crude oil futures were lower during mid morning Thursday pressured lower by a bearish report on US product inventory data while comments by Saudi Arabia and UAE on OPEC cuts helped to stall the price fall. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:30 am Singapore time (0230 GMT), ICE March Brent crude futures were down 61 cents/b (0.99%) from Wednesday’s settle to $60.83/b, while the NYMEX February light sweet crude contract was 62 cents/b (1.18%) lower at $51.74/b. According to data released by the US Energy Information Administration on Wednesday, US gasoline inventories and distillate inventories for the week ended January 4 had added 8.07 million barrels and 10.61 million barrels, respectively. This was far higher than what analysts had expected or what the American Petroleum Institute had reported a day earlier. Although US crude inventories posted […]