Oil prices stabilize amid the decline in peace hopes between Russia and Ukraine

Oil prices stabilized during early Asian transactions on Friday, but on their way to end a series of two -week losses, with a decrease in hope for rapid peace between Russia and Ukraine, which increased the risk premium required by oil sellers.

By 0052 GMT, Brent crude futures fell four cents to $ 67.63 a barrel, and US West Texas Intermediate crude futures fell one -cm to $ 63.51, according to Reuters data. Both decades increased by more than one percent when settling in the last session. On a weekly basis, Brent crude gained 2.7 percent and West Texas Intermediate crude 1.1 percent so far. Dealants have signed more risks as hope will succeed in US President Donald Trump’s mediation efforts to quickly reach an agreement to end the war. Oil prices have received support from a greater decline than expected from US crude stocks last week, indicating the strength of demand. (Sky News)