Crude oil futures took a dive during the mid-morning trade in Asia on Oct. 28, erasing most of their overnight gains, as the market grew anxious over a large build in the US crude inventories and over prospects of nationwide lockdowns in Europe, where countries are struggling to contain the second wave of the coronavirus pandemic. At 9:53 am Singapore time (0153 GMT), ICE Brent December crude futures were down 67 cents/b (1.63 %) from the Oct. 27 settle to $40.53/b, while the NYMEX December light sweet crude contract was down 75 cents/b (1.90%) at $38.82/b. Both markers had jumped 1.83% and 2.62% to settle at $41.20/b and $39.57/b, respectively, on Oct. 27, after Hurricane Zeta shuttered 55.35% of US Gulf crude output. The fall in oil prices in the morning comes after […]