Crude prices rose in mid-morning trade in Asia Nov. 16, as the market was comforted by the strong possibility that any new lockdowns in the US will be less severe than the nationwide lockdowns seen in spring, with the signing of the Regional Comprehensive Economic Partnership (RCEP) also providing a boost to sentiment. At 10:37 am Singapore time (0237 GMT), ICE Brent January crude futures were up 41 cents/b (0.96%) from the Nov. 13 settle at $43.19/b, while the NYMEX December light sweet crude contract was up 50 cents/b (1.25%) at $40.63/b. January ICE Brent and December NYMEX crude futures surged 8.44% and 8.05% higher in the week ended Nov. 13 to settle at $42.78/b and $40.13/b, respectively, on reports of progress in the development of a COVID-19 vaccine. Market analysts attributed the […]