Crude oil futures fell during the mid-morning trade in Asia on Oct. 26, extending losses from Oct. 23, after Libya’s National Oil Corp said that output from the country may increase to 1 million b/d within four weeks. At 9:55 am Singapore time (0155 GMT), ICE Brent December crude futures were down 70 cents/b (1.68%) from the Oct. 23 settle to $41.07/b, while the NYMEX December light sweet crude contract was down 69 cents/b (1.73%) at $39.16/b. Both markers had fallen 1.63% and 1.94%, respectively, to settle at $41.77/b and $39.85/b, respectively, on Oct. 23. The fall in oil prices comes amid heightened concerns on the supply side, after Libya’s NOC lifted the force majeure on exports from the country’s largest ports, Es Sider and Ras Lanuf on Oct. 23, and said that […]