LONDON—Oil dropped from a seven-year high to around $94 a barrel on Tuesday, pressured by a report that some troops in Russia’s military districts adjacent to Ukraine are returning to bases, a move that could de-escalate tension between Moscow and the West.
Russia’s Interfax news agency cited the defense ministry as saying that while large-scale drills across the country continued, some units of the Southern and Western military districts have completed their exercises and started returning to base.
