Crude oil futures were trading lower in mid-morning trade in Asia June 29 after a surge in new coronavirus cases across the US clouded the demand outlook. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10 am Singapore time (0200 GMT), ICE Brent August crude futures were down 58 cents/b (1.41%) from the June 26 settle at $40.44/b, while the NYMEX August light sweet crude contract was 53 cents/b (1.38%) lower at $37.96/b. The number of new coronavirus cases in the US surged to a fresh record high late last week, prompting several states to delay reopening plans or re-shutter businesses to slow the pandemic. Texas governor George Abbott and Florida governor Ron DeSantis issued orders June 26 closing bars in a bid to slow the explosive growth of the virus in those states. “The continued spread of the virus […]