Crude oil futures were lower in mid-morning trade in Asia Aug. 3 as weakening demand and rising supply weighed on market sentiment. At 10:48 am Singapore time (0248 GMT), the new front-month ICE Brent October crude futures fell 26 cents/b (0.6%) from the July 31 settle at $43.26/b, while NYMEX September light sweet crude contract was down by 30 cents/b (0.74%) at $39.97/b. The unabated COVID-19 spread and rising fatalities worldwide continue to be the most significant issue capping oil demand recovery. The global case count stands at 17.97 million, with total deaths at 687,067, according to the latest data from John Hopkins University. The US’ gross domestic product fell by a record 32.9% in the second-quarter, while the number of Americans filing for initial unemployment benefits increased for the second consecutive week […]