Crude oil futures edged higher in the Asian afternoon trade on Thursday, extending gains from the previous session as supply concerns emerged from OPEC producers Venezuela and Libya, while demand concerns related to coronavirus eased. At 2:19 pm Singapore time (0619 GMT), the April ICE Brent crude futures rose 27 cents/b (0.46%) from Wednesday’s settle at $59.39/b, while the NYMEX March light sweet crude contract rose 25 cents/b (0.47%) at $53.54/b. Oil prices have seen a boost of late, having closed on Wednesday at a high not seen since Jan. 29. Slowing cases of new coronavirus cases in China provided a much-needed relief to the crude market. “While concerns linger on the economic implications of coronavirus’ impact, positive signs have certainly been present,” Pan Jingyi, market strategist at IG, said in a […]