Crude oil futures climb amid supply fears; recessionary concerns weigh

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Crude oil futures were higher in mid-morning Asian trade May 25 as supply issues continued to prop up the market. At 10:20 am Singapore time (0220 GMT), the ICE July Brent futures contract was up $1.14/b (1%) from the previous close at $114.70/b, while the NYMEX July light sweet crude contract rose $1.16/b (1.06%) to $110.93/b. Concerns about lack of…