Crude makes a mildly soft start in Asian trade

Crude oil futures have made a slightly soft start in Asian trade on Monday on speculation that supply will increase. A four-way talk in Geneva on the Ukraine crisis ended April 17 with an agreement aimed at easing the conflict. Trading on Nymex and ICE was closed on April 18 for the Good Friday holiday. However, any major fall was averted with Technical problems delaying the reopening of Libya's eastern Zueitina oil export terminal after the government reached a deal with rebels to end an eight-month blockade of the port. Benchmark crude oil futures for May delivery, which expires tomorrow, declined by 32 cents or 0.3 percent, to $103.98 a barrel in electronic trading on the New York Mercantile Exchange. In London, Brent for June settlement declined by 54 cents to $108.99 a barrel on the ICE.