WASHINGTON (dpa-AFX) - Oil prices edged lower on Friday but were set for a weekly gain as hopes for an imminent peace deal between Russia and Ukraine dimmed.
Benchmark Brent crude futures dipped 0.2 percent to $67.54 a barrel in European trade but were up nearly 2.5 percent for the week amid stalled Russia-Ukraine peace talks and signs of strong demand in the United States.
WTI crude futures were down 0.2 percent at $63.42 but were poised for a 1 percent weekly gain.
The German economy shrank more than initially estimated in the second quarter, raising concerns over demand.
After a surge of 0.3 percent quarter-on-quarter in the first quarter, the German economy shrank by 0.3 percent in the second quarter, data showed. The initial estimate showed a drop of 0.1 percent sequentially.
On the geopolitical front, Russia has captured the eastern Ukrainian village of Katerynivka in Donetsk, Russian state news agency RIA quoted the defense ministry as saying, raising fresh doubts over the credibility of his Ukraine peace push.
Elsewhere, Ukrainian drones have struck the Unecha oil pumping station in Russia's Bryansk region, according to reports.
Ukrainian President Volodymyr Zelensky accused Moscow on Thursday of shirking a meeting between him and Russian counterpart Vladimir Putin, despite U.S.-led attempts to arrange a summit to end the war.
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