Oil set to close lower for second straight week

Core Viewpoint - Oil prices are experiencing a decline, with expectations of a Russia-Ukraine peace deal contributing to this trend, despite concerns regarding supply disruptions from Venezuelan oil tanker blockades [1] Group 1: Oil Price Trends - Oil prices fell in early trading on Friday and are set to close lower for a second consecutive week [1] - The decline in oil prices is influenced by rising prospects of a peace deal between Russia and Ukraine [1] Group 2: Supply Concerns - There are ongoing concerns about supply disruptions due to a blockade of Venezuelan oil tankers [1]