Crude oil futures were lower during midmorning Asia trade Aug. 13 as pandemic concerns continued to keep prices in check, with the sentiment also taking a hit after the International Energy Agency said global oil demand recovery had reversed its course in July. At 11:15 am Singapore time (0315 GMT), the ICE October Brent futures contract was down 48 cents/b (0.67%) from the previous close at $70.83/b while the NYMEX September light sweet crude contract was down 51 cents/b (0.74%) at $68.58/b. The spread of the delta variant of the coronavirus can potentially jeopardize the global economic recovery and sap demand for oil and energy, analysts said. Parts of major Asia-Pacific regional economies, including India, China and Australia, have imposed mobility restrictions in a bid to curb infection numbers. The market is particularly concerned about […]