Oil prices mixed as Ukraine fears recede

SINGAPORE: Oil prices were mixed in Asia Wednesday as fears of an immediate armed conflict in Ukraine receded, but analysts said the presence of Russian-backed troops in the Crimean peninsula continue to support prices.

New York´s main contract, West Texas Intermediate (WTI) for April delivery, rose 12 cents to $103.45 in mid-morning Asian trade, while Brent North Sea crude for April eased three cents to $109.27.

WTI fell $1.59 in New York Tuesday after Russian President Vladimir Putin declared in a news conference there was currently "no need" to send troops into Ukraine. European benchmark Brent tumbled $1.90 in London.