Oil prices dip on hopes of Ukraine crisis easing

SINGAPORE, Apr 1 (AFP) : Oil prices dipped in Asian trade Tuesday as reports of a partial withdrawal of Russian troops along the Ukrainian border raised hopes of an easing in the worst East-West standoff since the Cold War.

New York's West Texas Intermediate (WTI) for May delivery dropped 28 cents to $101.30 a barrel in afternoon trade and Brent North Sea crude for May shed 13 cents to $107.63.

The Ukrainian defence ministry's general staff spokesman Oleksiy Dmytrashkivskiy told AFP Monday that Russian forces have been "gradually withdrawing" from its border.