OIL FUTURES: Crude rangebound as EU ban, G7 price cap on Russian oil products begin

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Crude oil futures were rangebound in mid-morning Asian trade Feb. 6 as the market monitors the immediate impact of the G7 price cap and EU ban on Russian oil products that kicked in Feb. 5 and OPEC+’s ongoing cautious approach to raising production levels. At 10:23 am Singapore time (0223 GMT), the ICE April Brent futures contract was up 9…