Oil hovers near $63 in Asian trade

SINGAPORE: Oil prices paused near $63 a barrel Thursday in Asia after signs of weak U.S. crude demand triggered a sharp sell-off this week. Benchmark crude for September delivery was down 19 cents to$63.16 a barrel by midday Singapore time in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract fell$3.88 to settle at $63.35. Crude prices have slid from above $69 earlier this week on investor concerns that a slow reco .... Full Story