Oil Hits Weekly Gains as Fed Chief Fuels Rate Cut Hopes and Ukraine Peace Process Stalls

Oil rises as Ukraine ceasefire looks far away; stronger sanctions against Russia back in focus

Oil hits weekly gains as Fed chief fuels rate cut hopes and Ukraine peace process stalls

Crude futures may benefit from cheaper borrowing costs, spurring economic activity and increasin fuel demand

Oil prices rise, make weekly gains as Ukraine peace process stalls

Both contracts gained more than 1% in the previous session. Brent gained 2.9% this week while WTI rose 1.4%.

Oil Updates — crude prices set to end losing streak as Ukraine peace

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

Oil prices rise as Ukraine peace process stalls

Oil Prices Rise, Make Weekly Gains as Ukraine Peace Process Stalls

HOUSTON -Aug 22 (Reuters) – 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 ros…