Crude oil futures fell during the mid-morning trade in Asia March 16, as the market sentiment was knocked by a trifecta of rising COVID-19 cases, supply-side worries and strengthening dollar. At 10:48 am Singapore time (0248 GMT), the ICE Brent May contract was down 83 cents/b (1.20%) from the March 15 settle to $68.05/b, while the April NYMEX light sweet crude contract was down by 76 cents/b (1.16%) to $64.63/b. Analysts said the oil market has entered a period of consolidation following a rally that has seen both the ICE Brent and the NYMEX light sweet crude markers jump more than 30%. “It looks like the bullish crude moves that stemmed from the Texas deep freeze and the reopening of the economy are now fully priced in. Oil prices have been extremely bullish […]