Crude oil futures were lower during mid-morning trade in Asia Wednesday, amid a surprise build reported in US crude stocks last week while ongoing global supply tightness capped the price fall. At 10:10 am Singapore time (0210 GMT), July ICE Brent crude futures were down 11 cents/b (0.15%) from Tuesday’s settle to $71.13/b, while the NYMEX June light sweet crude contract lost 30 cents/b (0.49%) at $61.48/b. According to analyst reports quoting data from the American Petroleum Institute, US crude stocks for the week ended May 13 rose by 8.6 million barrels. Analysts surveyed Monday by S&P Global Platts were looking for US crude stocks to have declined by 2.3 million barrels for the same period. The API also reportedly showed stockpile increases of 567,000 barrels in gasoline and 2.2 million barrels in distillates, analysts […]