Oil Prices Fall and Head for Weekly Losses

Oil prices declined after Ukrainian President Volodymyr Zelensky agreed to move forward with a U.S. peace plan, coinciding with the start of U.S. sanctions on two major Russian energy companies on Friday.اضافة اعلان

Brent crude fell for the third consecutive session, trading near $63 per barrel, while West Texas Intermediate dropped below $59, according to Bloomberg.

Both benchmarks are on track to fall by more than 2% this week due to concerns over increasing supply.