With the decline in the hopes of the Russian -Ukrainian peace … oil prices are affected

Oil prices stabilized on Friday without significant changes, after hopes for reaching an imminent peace agreement between Russia and Ukraine fell, which put prices on the course of achieving its first weekly gains in three weeks.

Brent crude contracts recorded a stability at $ 67.67 a barrel by 13:08 GMT, while West Texas Intermediate West Crude contracts (WTI) increased by 9 cents, or 0.1%, to reach 63.61 dollars. The two decades have registered gains by more than 1%in the previous session, as Brent rose so far this week by 2.8%, in When West Texas raw rose 1.4%. “Everyone is waiting for the next step from President Trump, and it seems that in the coming days nothing will happen.” The war that entered its fourth year continued this week without stopping, as Russia launched an air attack on Thursday near the Ukrainian border with the European Union, while Ukraine announced that it targeted a Russian oil refinery and the oil pumping station in UNisha, which is a vital part From the “Drogba” pipeline that supplies Europe with Russian oil. Hungary said that the pumping operations through this line have stopped. Trump tried to arrange a summit between Russian President Vladimir Putin and his Ukrainian counterpart, Volodimir Zellinski, as part of his endeavors to reach a peace agreement, but arranging such a meeting seems difficult, as the debate on security guarantees face obstacles, according to “ing” analysts in a memorandum of customers on Friday. They added that the possibility of a ceasefire will decline in the rise of the possibility of imposing US sanctions more severe on Russia. In the meantime, American and European planners offered military options to their national security advisers after the first direct meeting between the leaders of the United States and Russia since the Russian invasion of Ukraine. Putin called, according to sources, spoke to Reuters, that Ukraine would give up the entire eastern region of Donbas, give up the aspirations of joining “NATO”, and to prevent the western forces from entering their lands. On the other hand, Trump pledged to protect Ukraine in the context of any agreement that ends the war, while Zelinski rejected the idea of ​​withdrawing from internationally recognized Ukrainian lands.

A greater decline than expected in US oil stocks
Oil prices also found support for the significant decline in US crude stocks during the past week, indicating a force in demand. The US Energy Information Administration said on Wednesday that the stocks fell by 6 million barrels in the week ending on August 15, while analysts expected a decline of 1.8 million barrels only, but weak economic data from Germany on Friday limited the impact of these numbers, as the largest economy in Europe showed 0.3% in the second quarter, which raised concerns about the demand for oil. Investors also wait for signals from the conference The Economic Jackson Hall in Wyoming about a possible reduction in US interest rates next month, and the annual meeting of the senior central bank governors started on Thursday, and the Federal Reserve Chairman is scheduled to deliver Jerome Powell a speech on Friday. Reducing interest rates will stimulate economic growth and increase the demand for oil, which may support prices.