Crude oil futures extended their gains in mid-morning trade in Asia Friday, after optimism emerged in the market following news of a possible delay in US tariffs on Mexico. At 10:30 am Singapore time (0230 GMT), ICE Brent August futures were up 63 cents/b (1.02%) from Thursday’s settle at $62.30/b, while the NYMEX July light sweet crude futures contract was 57 cents/b (1.08%) higher at $53.16/b. The recovery comes after prices collapsed over 16% in the past three weeks, against a backdrop of trade tensions and economic growth concerns, analysts said. “News late in the day [Thursday] that tariffs on Mexican imports into the US may be delayed may also have added to the exuberance,” ANZ analysts said Friday. Media reports cited an unnamed US official saying that a tariff was still the most likely […]