Oil prices regain losses as Russia-Ukraine tensions ease

SINGAPORE (Reuters) -Oil prices recouped losses on Wednesday after slipping more than 3% in the previous session, as investors gauged the impact of easing Russia-Ukraine tension against a taut balance of tight global supplies and recovering fuel demand.

Brent traded at $93.90 a barrel by 0722 GMT, up 62 cents, or 0.7%, having slid 3.3% overnight after Russia announced a partial pullback of its troops near Ukraine, yet to be verified by the United States.

U.S. West Texas Intermediate (WTI) crude was at $92.71 a barrel, up 64 cents, or 0.7%, after the contract ended Tuesday’s session down 3.6%.