Crude oil futures tumble on concerns over China COVID-19 spread, SPR release

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Crude oil futures tumbled in mid-morning trade in Asia April 11 due to growing concerns over China’s battle against a COVID-19 surge and the oil reserve release from consuming nations. At 10:21 am Singapore time (0221 GMT), the ICE June Brent futures contract was down $2.75/b (2.68%) from the previous close to $100.03/b, while the NYMEX May light sweet crude…