Crude oil futures rebounded in mid-morning trade in Asia Friday, after settling down 2.5% overnight due to a heavy selloff, with the near-term outlook appearing similarly volatile amid developments in the coronavirus outbreak, analysts said. At 10:56 am Singapore time (0256 GMT), March ICE Brent crude futures were up 90 cents/b (1.54%) from Thursday’s settle at $59.19/b, while the NYMEX March light sweet crude contract was $1.06/b (2.03%) higher at $53.20/b. Market participants continue to focus on trying to gauge the extent of demand impacted by the coronavirus. The World Health Organization Thursday declared the outbreak a “public health emergency of international concern.” However, analysts said there was potential for prices to recover following recent aggressive selloffs. “Shorts were covered very aggressively into the NYMEX close as a global pandemic appears less imminent for now,” said Stephen […]