Crude oil futures were stable in mid-morning trade in Asia Friday, as investors remained cautious against a backdrop of mixed drivers. At 9:33 am Singapore time (0133 GMT), April ICE Brent crude futures dipped 7 cents/b (0.12%) from Thursday’s settle to $56.27/b, while the NYMEX March light sweet crude contract was stable at $51.42/b. A few analysts said the coronavirus or COVID-19 outbreak has already been priced in, while others said it depends on whether the situation worsens for the longer term. “The crude oil price was under pressure early in the session after China reported a sharp rise in cases of COVID-19,” ANZ analysts said Friday. “However, the selling reversed after the World Health Organization said the spike didn’t necessarily reflect a sudden surge in the epidemic. The moves suggest the market […]