ICE Brent plunges more than 9% overnight Sentiment remains fragile on recession fears Norway workers’ strike ends after government intervention Crude oil futures were higher in mid-morning Asian trade July 6 as investors bought the dip after a plunge of more than 9% overnight for ICE Brent crude, as sentiment remained highly vulnerable to recession fears. An oil workers’ strike in Norway that had disrupted supply and boosted prices was also resolved July 5. At 10:20 am Singapore time (0220 GMT), the ICE September Brent futures contract was up $1.24/b (1.21%) from the previous close at $104.01/b, while the NYMEX August light sweet crude contract was 77 cents/b (0.77%) higher at $100.27/b. Oil prices nosedived in the overnight session July 5, with ICE Brent settling lower by 9.5% and NYMEX crude by 8.2%, as […]