Brent traded at $93.90 a barrel by 0722 GMT, up 62 cents, or 0.7%, having slid 3.3% overnight. U.S. West Texas Intermediate (WTI) crude was at $92.71 a barrel, up 64 cents, after the contract ended Tuesday’s session down 3.6%. Russia indicates partial pullback of troops from near Ukraine, yet to be verified by the United States. But beyond the Ukraine tension, the oil market remains tight and prices are still on course for a move towards $100 a barrel. The price of Brent jumped 50% in 2021, while WTI soared about 60%, as a global recovery in demand from the COVID-19 pandemic strained supply. . . .
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