Oil Updates — crude prices set to end losing streak as Ukraine peace process stalls
LONDON: Oil prices were stable on Friday as hopes for an imminent peace deal between Russia and Ukraine dimmed, putting prices on track for their first weekly gain in three weeks.
Brent crude futures were up 8 cents, or 0.1 percent, at $67.75 a barrel by 11:15 a.m. Saudi time. West Texas Intermediate crude futures rose 12 cents, or 0.2 percent, to $63.64.
Both contracts gained more than 1 percent in the previous session. Brent has risen 2.8 percent so far this week while WTI is up 1.4 percent.
“Everyone is waiting for President Trump’s next step,” said UBS commodity analyst Giovanni Staunovo. “Over the coming days, it seems nothing will happen.”
