ICE Brent crude futures retake $120/b as supply outlook remains tight

Crude oil futures were higher in mid-morning trade in Asia June 7 as supply remained tight, with the ICE Brent crude marker once again retaking the $120/b level after failing to settle above it in the previous session. At 10:33 am Singapore time (0233 GMT), the ICE August Brent futures contract was up 75 cents/b (0.63%) from the previous close…