Crude oil futures fell more than 1% in mid-morning trade in Asia Thursday as concerns of slower jet fuel demand emerged amid the recent rise in coronavirus-related cases and deaths Wednesday. At 10:55 am Singapore time (0255 GMT), March ICE Brent crude futures fell 70 cents/b (1.11%) from Wednesday’s settle at $62.51/b, while the NYMEX March light sweet crude contract fell 79 cents/b (1.40%) at $55.95/b. Crude oil futures earlier collapsed more than 2% to settle at six-week lows Wednesday. Nearly 500 cases have been reported and 17 reported deaths attributed to the current Wuhan coronavirus (novel coronavirus 2019-nCoV) as of Wednesday. Apart from China, cases have also been reported in Thailand, South Korea, Japan, and the US, according to the US Centers for Disease Control and Prevention. “With the Lunar New Year holidays about to start, […]