Crude oil futures were lower in mid-morning trade in Asia Monday as the growing coronavirus spread continues to dampen the outlook for demand and economic growth. At 10:35 am Singapore time (0235 GMT), ICE Brent May crude futures were down $1.07/b (3.2%) from Friday’s settle at $32.78/b, while the NYMEX April light sweet crude contract was 64 cents/b (2%) lower at $31.09/b. The growing spread of the coronavirus globally has led to further travel restrictions. More airlines have also announced job cuts and grounding aircraft in response to the worsening pandemic, according to media reports. “The escalating coronavirus pandemic, with countries around the world closing borders and locking down populations to contain its spread, has seen Friday’s false dawn end quickly today,” Jeffrey Halley, Senior Market Analyst at OANDA, said Monday. Oil […]