Crude oil futures were lower in mid-morning trade in Asia Wednesday, extending the overnight downtrend, as selling pressure started to kick in amid heightened fears of the recent flu virus in China, which could have an indirect impact on oil demand, analysts said.  At 11:08 am Singapore time (0308 GMT), March ICE Brent crude futures fell 19 cents/b (0.29%) from Tuesday’s settle at $64.40/b, while the NYMEX March light sweet crude contract fell 23 cents/b (0.39%) at $58.15/b. “Oil prices fell as fears of the Wuhan coronavirus spread to as far as the United States,” OCBC analysts said Wednesday. “Developments over the virus is likely to drive oil’s direction in the immediate short term, especially with the risks of contagion rising ahead of Lunar New Year festivities in China,” the analysts added. Concerns over a weaker demand […]