Oil prices rise, make weekly gains as Ukraine peace process stalls
Oil prices steadied on Friday amid uncertainty surrounding a potential peace deal between Russia and Ukraine, with prices gaining on the week for the first time in three weeks.
Brent crude futures settled up 6 cents or 0.09% to $67.73. West Texas Intermediate (WTI) crude futures settled up 14 cents or 0.22% to $63.66.
Both contracts gained more than 1% in the previous session. Brent gained 2.9% this week while WTI rose 1.4%.
U.S. President Donald Trump said on Friday he will see if Russian President Vladimir Putin and Ukraine President Volodymyr Zelenskiy will work together in ending Russia's war in Ukraine.
The 3-1/2-year war continued unabated this week as Russia launched an air attack on Thursday near Ukraine's border with the European Union, and Ukraine said it hit a Russian oil refinery and the Unecha oil pumping station, a critical part of Russia's Europe-bound Druzhba oil pipeline.
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days.
Trump is seeking to arrange a summit between Putin and his Ukrainian counterpart Zelenskiy as part of efforts to broker a peace deal for Ukraine.
Russian Foreign Minister Sergei Lavrov said there is no agenda for a potential summit between Putin and Zelenskiy, accusing Zelenskiy of saying "no to everything".
Source : Reuters
