Oil prices set for weekly gain as Ukraine peace process stalls

Oil prices edged up on Friday as hopes of an imminent peace deal between Russia and Ukraine faded, putting prices on track for their first weekly gain in three weeks.

Brent crude futures were up 18 cents at $67.85 a barrel by 10:31 a.m. EDT (1431 GMT). West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.39%, to $63.77.

Both contracts gained more than 1% in the previous session. Brent has risen 3.04% so far this week while WTI is up 1.5%.

"Everyone is waiting for President Trump's next step," said UBS commodity analyst Giovanni Staunovo. "Over the coming days, it seems nothing will happen," he added.