Oil futures recovered slightly during the mid-morning trade in Asia Sept. 22, after the prospect of renewed lockdowns amid a potential resurgence of the coronavirus pandemic drove futures down Sept. 21. At 11:16 am Singapore time (0316 GMT), ICE Brent November crude futures were trading at $41.54/b, up 10 cents/b (0.24%) from the Sept. 21 settle, while the NYMEX October light sweet crude contract was at $39.57/b, up 26 cents/b (0.66%). This uptick in crude futures comes after the November Brent and the October WTI plummeted $1.71/b and 1.80/b to close at $41.44/b and $39.31/b, respectively, on Sept. 21, following fears of renewed lockdown restrictions during the winter months, when the coronavirus is expected to spread faster. The prospect of fresh lockdown restrictions has hit the oil market hard, since such […]