Crude oil futures were higher in mid-morning trade in Asia Tuesday amid market expectations that demand destruction following the COVID-19 outbreak has found a floor. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:14 am Singapore time (0214 GMT), ICE Brent July crude futures were up $1.03/b (3.79%) from Monday’s settle at $28.23/b, while the NYMEX June light sweet crude contract was $1.31/b (6.42%) higher at $21.70/b. “Crude oil extended gains from last week amid hopes that the worst is behind it following the devastating level of demand destruction due to COVID-19,” ANZ analysts said in a note Tuesday. This comes amid the reopening of economies as more countries are expected to gradually ease lockdown measures in the next few months. Meanwhile, a slowing US crude inventory build over the last few weeks also suggested a decline in US production. […]