Crude oil futures were slightly higher during mid-morning Asian trade May 17, but any upside was limited by concerns over renewed coronavirus-related mobility restrictions in the region. At 11:03 am Singapore time (0303 GMT), the ICE Brent July contract was up 34 cents/b (0.49%) from the May 14 settle at $69.05/b, while the June NYMEX light sweet crude contract was up 31 cents/b (0.47%) at $65.68/b. The market continues to monitor the progress of the COVID-19 pandemic in Asia, where a growing list of countries have tightened mobility restrictions. Singapore and Taiwan, two countries that have thus far been lauded for reigning in the virus, are among the countries grappling with the rising number of infections. Singapore, on May 14, had introduced new restrictions under what it termed as ‘Phase 2 (Heightened Alert)’ […]