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.
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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.
