Crude oil futures were slightly lower during mid-morning trade in Asia July 27 as concerns over recovery in oil demand resurfaced amid a resurgence in the number of COVID-19 cases worldwide. At 11:15 am Singapore time (0315 GMT), ICE Brent September crude futures was down 8 cents/b (0.18%) from the July 24 settle to $43.26/b, while the NYMEX September light sweet crude contract was down by 4 cents/b (0.1%) at $41.25/b. “Crude has been overdue for a correction because the concerns over oil demand revival globally is quite real,” Vandana Hari, founder and CEO of oil consultancy firm Vanda Insights said July 27. Global COVID-19 case counts have continued to rise steadily and now stands at 16.2 million, with total deaths nearing 650,000, with the US and Brazil accounting for 41% of total […]