Crude oil futures extend gains amid draws in US crude, product stocks

Crude oil futures strengthened during mid-morning Asian trade July 28, extending overnight gains after US data showed draws in crude and oil product stocks in the week ended July 22, while sentiment in financial markets improved after the US Federal Reserve’s latest hike in interest rates. The ICE September Brent futures contract was up $1.33/b (1.25%) from the previous close…