Crude oil futures were higher in mid-morning trade in Asia Aug. 24, after surging by more than 5% overnight, as falling COVID-19 cases in China and expectations of a delay in tapering monetary support in the US continued to fuel a risk-on rally. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 9:50 am Singapore time (0150 GMT), the ICE October Brent futures contract was up 40 cents/b (0.58%) from the previous close at $69.15/b, while the NYMEX October light sweet crude contract was 32 cents/b (0.49%) higher at $65.96/b. Both oil benchmarks settled 5.3%-5.4% higher overnight after a spate of bullish reports spurred a rally across asset classes, with several US equity indices closing at or near record highs. Investors were cheered by news that China reported zero locally transmitted COVID-19 cases Aug. 22, a sign that the government has been successful in beating […]