Oil set to close lower for second straight week
Oil prices fell in early trading on Friday and were set to close lower for a second straight week, as rising prospects of a Russia-Ukraine peace deal offset concerns over supply disruptions from a blockade of Venezuelan oil tankers.
Brent crude futures fell 9 cents, or 0.2%, to $59.73 a barrel by 0111 GMT, and U.S. West Texas Intermediate crude was trading 16 cents, or 0.3% lower, at $55.99 a barrel. On a weekly basis, both benchmarks were down more than 2%.
