Oil prices dip06 June 2014
AFP, Singapore :
Oil prices dipped in Asia today after Russian President Vladimir Putin held out a hand to crisis-hit Ukraine, raising hopes of an easing in the worst East-West standoff since the Cold War.
US benchmark, West Texas Intermediate for delivery in July, eased 33 cents to $102.31 a barrel while Brent North Sea crude for July was down 17 cents at $108.23 in afternoon trade.
"Benchmark prices fell due to the easing of tensions between Ukraine and Russia," said Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at consultancy firm EY.