That is down from a high of just above $95 from earlier in Asia Pacific trading.
The latest downside shove came after the headlines here, with Russia reportedly saying that they are pulling back military troops as some drills have been completed.
The low yesterday for oil came at $92.07-13 so that will be a near-term spot to watch before we get to the key hourly moving averages @ $90.95 to $91.58. Just be mindful that oil prices are also coming off the back of eight straight weeks of gains so that might also be pointing to rather stretched conditions.
I fear if there are is material communique from Russia on de-escalating tensions, then that could see oil take a deeper hit but one that might be deemed as "healthy" in the context of the upside run since late December.
For now, the drop is still rather contained I would say even if 3% sounds significant. If you compare that to the 31% rise since the start of this streak, it definitely isn't much.