Brent oil maintained its decline in American trade on track for the first loss in three days on prospects of holding a US-Russia summit to fix the Ukrainian crisis, which might diffuse concerns of global supply disruptions.

Brent fell 1.75% to $92.59 a barrel, with an intraday high at $94.96, after rising 0.8% on Friday for another session on Ukraine's sessions. 

Oil prices tumbled 1.75% last week, the first weekly loss in nine weeks amid prospects of resuming Iranian exports to the global market, while US crude inventories rose unexpectedly

French President Emanuel Macron and his Russian and US counterparts agreed in principle to hold a summit on the Ukrainian crisis, but such a meeting would be impossible if an invasion took place.

Global efforts to fix the crisis diplomatically are still ongoing to avoid a flareup of militaristic combat in that zone.

Otherwise, European officials said that an agreement to revive the Iranian deal of 2015 is within reach.

Experts believe can still support further supplies from Iran easily however prices are becoming jittery from the prospect. 

Gold prices fell in European trade off eight-year highs for yet another session on active-profit taking, amid efforts to fix the Ukrainian crisis peacefully. 

Gold prices fell 0.6% to $1,887 an ounce, away from a June 2021 high at $1,908

Gold lost 0.1% on Friday, the first loss in three days  as dollar climbed against a basket of major rivals.

Gold prices rose 2.1% last week, the third weekly profit in a row on haven demand amid surging geopolitical tensions in eastern Europe. 

French President Emanuel Macron and his Russian and US counterparts agreed in principle to hold a summit on the Ukrainian crisis, but such a meeting would be impossible if an invasion took place.

Global efforts to fix the crisis diplomatically are still ongoing to avoid a flareup of militaristic combat in that zone.

Gold holdings at the SPDR Gold Trust rose 4.65 tonnes on Friday to a total of 1,024.09 tonnes, the highest since August 6.

Euro rose in European trade against dollar on track for the first profit in three days as risk appetite improves in the market with efforts intensifying to fix the Ukrainian crisis diplomatically. 

EUR/USD rose 0.5% to 1.1377, with an intraday low at 1.1312, after closing down 0.3% on Friday, the second loss in a row on risk aversion.

Euro fell 0.2% last week against dollar, the second weekly loss in a row on mounting geopolitical tensions in eastern Europe. 

French President Emanuel Macron and his Russian and US counterparts agreed in principle to hold a summit on the Ukrainian crisis, but such a meeting would be impossible if an invasion took place.

Global efforts to fix the crisis diplomatically are still ongoing to avoid a flareup of militaristic combat in that zone.

Later today, European data on the manufacturing, services and other will be released for February.

The data will offer more clues on the economic improvement and growth rate in the euro zone during the first quarter of the year.

US stock indices rose on Friday even amid constant concerns about potential conflict between Russia and Ukraine.

Even after Russia announced pulling some troops away from Ukrainian borders to their bases, the west remains highly suspicious of Russian intents. 

The Russian government started to expel US diplomats in a sign of strained relations, with the US warning that Russian troops concentrations on the Ukrainian border are nearing 200 thousand. 

Ukrainian president asserted his country will defend itself against a possible Russian attack, while London announced strong diplomatic and defensive support of Kiev. 

Dow Jones rose 0.1% to 34,351, while S&P 500 rose 0.2% to 4,391, as NASDAQ gained 0.1% to 13,735.