Crude oil futures fell during mid-morning trade in Asia Oct. 12, extending losses seen on Oct. 9, as supply-side disruptions in the US Gulf of Mexico and Norway abated, and Libya’s state-owned National Oil Corp. lifted the force majeure on the Sharara oil field, threatening to add more barrels to a market reeling from the lack of demand. At 10.50 am Singapore time (0250 GMT), ICE Brent December crude futures were down 36 cents/b (0.84%) from the Oct. 9 settle to $42.49/b, while the NYMEX November light sweet crude contract was down 33 cents/b (0.81%) at $40.27/b. Both international crude markets had fallen 1.13% and 1.43% on the day respectively to settle at $42.85/b and $40.60/b respectively on Oct. 9. The downward trajectory of the crude futures comes after a labor strike in […]