Crude oil futures surged during mid-morning trade in Asia Feb. 8, as strong demand from China continued to lift sentiment, while stimulus expectations provided some tailwind to the market.At 10:50 am Singapore time (0250 GMT), the ICE Brent April contract was up 53 cents/b (0.89%) from the Feb. 5 settle to 59.87/b, while the March NYMEX light sweet crude contract was up 55 cents/b (0.97%) to $57.40/b. Both markers had risen 5.31% and 6.16% in the week ended Feb. 5 to settle at one-year highs of $59.34/b, and $56.85/b, respectively. Fears that Chinese oil demand would take a hit following fresh outbreaks of the coronavirus were quelled after infection numbers subsided, and as the number of oil vessels heading towards the country remained high. “Crude oil rose to its highest level in […]