Oil extends decline on possible Russia-Ukraine peace deal
Oil prices extended their decline for a third straight session on Friday as the U.S. pushed for a Russia-Ukraine peace deal that could bring more oil supplies onto the global market, while uncertainty over U.S. interest rate cuts curbed investor risk appetite.
Brent crude futures fell 71 cents, or 1.12%, to $62.67 a barrel by 0212 GMT after slipping 0.2% in the previous session. U.S. West Texas Intermediate crude was at $58.29 a barrel, down 71 cents, or 1.20%, after closing 0.5% lower on Thursday.
