Crude oil futures extended overnight gains during mid-morning trade in Asia July 6 on fears that oil demand will soon outstrip supply after the OPEC+ coalition, consisting of OPEC members and other oil producers, canceled its July 5 meeting without ratifying an increase in production for August onward. At 11:16 am Singapore time (0316 GMT), the ICE September Brent futures contract was up 25 cents/b (0.32%) from the previous close at $77.41/b, while the NYMEX August light sweet crude contract was up 30 cents/b (4%) at $76.64/b. The ICE Brent marker had settled 1.30% higher July 5 at $77.16/b, the highest on record since Oct. 29, 2018. The rise in the international oil markers come after OPEC+ called off their July 5 meeting, which was to mark the third day of official talks, necessitated by […]