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Oil Down as the Probability of a Russian Invasion of Ukraine Decreases.
Oil was down on Wednesday morning in Asia, after retreating more than 3% during the previous session. Investors also considered the decreased probability of a Russian attack on Ukraine alongside a tight market and recovering fuel demand globally.
Brent oil futures edged down 0.17% to $93.12 by 11:58 PM ET (4:58 AM GMT). They moved down 10 cents after sliding 3.3% overnight after Russia announced a partial pullback of its troops near Ukraine, which is yet to be verified by the U.S. WTI futures inched down 0.04% to $92.03 steadying after ending Tuesday’s session down 3.6%.