Crude oil futures surged in mid-morning trade in Asia Tuesday as sentiment improved ahead of key discussions including a G7 global teleconference and the OPEC+ meet later in the week. At 10:35 am Singapore time (0235 GMT), May ICE Brent crude futures rose $1.26/b (2.43%) from Monday’s settle to $53.16/b, while the NYMEX April light sweet crude contract rose $1.28/b (2.74%) to $48.03b. “The air is rife with expectations that G-7 finance ministers and central bankers will move to prop up financial markets and that OPEC will tighten the reigns on supplies in response to the virus-driven demand shock,” AxiCorp’s chief market strategist Stephen Innes said Tuesday. G7 finance ministers are expected to hold a conference call later to discuss measures to deal with the economic impact of the COVID-19 outbreak, according […]