The Ukraine premium is quickly coming out of oil. It's trading at $90.76 from a high of $95.80 yesterday. That's more than $5 from the high and more than $4 today. The vast majority of it has come in the past few hours with Putin's comments pointing to a de-escalation.
That said, there are reports trickling in of shelling in the Luhansk/Donetsk region:
