Oil futures edged lower after China reported new virus cases and the dollar rose, while physical crude prices in Asia weakened. Futures in New York fell 0.5%. Premiums for Russia‚Äôs ESPO crude, a favorite of refiners in Asia, have fallen by more than $1 since last month, according to traders who asked not to be identified. A flurry of new Covid cases in China and flare-ups in other major regional consumers like Japan are menacing demand. Gaps in access to vaccines raise concern that the continued spread of the virus will breed more dangerous versions. But while a second daily rise in the dollar helped force oil lower on Monday, other data prevent a steeper decline. Chinese refiners processed record volumes of crude in December — […]