Crude oil futures were largely stable in mid-morning trade in Asia August 5 as concerns over the demand outlook amid a resurgence in regional coronavirus infections and rising geopolitical tensions between the US and China weighed on sentiment after both key benchmarks settled near five-month highs overnight. At 11:26 am Singapore time (0326 GMT), the ICE Brent October crude futures were up 3 cents/b (0.07%) from the August 4 settle at $44.46/b, while the NYMEX September light sweet crude contract was 1 cent/b (0.02%) lower at $41.69/b. “Oil markets are trading within well-worn ranges. Prices continue to converge around the current center of mass, around Brent $44/b, supported by signs of improvement in manufacturing and business sentiment across key economies, while coat-tailing upswings in US stock markets are creating an unambiguous “risk-on” habitat […]