Crude oil futures dived during midmorning Asia trading Nov. 5 as the demand-side gloom brought about by the pandemic festered in the markets gripped by uncertainty about the US elections. At 11.08 am Singapore time (0308 GMT), ICE January Brent crude futures was down 60 cents/b (1.46%) from the Nov. 4 settle at $40.63/b while the NYMEX December light sweet crude contract was also down 60 cents/b (1.53%) at $38.55/b. ICE January Brent and NYMEX December crude futures had surged 3.83% and 3.96% to settle at $41.23/b and $39.15/b, respectively, on Nov. 4 as the market received a boost from indications that the OPEC+ alliance may maintain or deepen its current production cuts instead of easing them as scheduled from 2021 onward. However, on Nov. 5, the pernicious demand-side impacts of the coronavirus […]