U.S. oil retreats from 2019 high on soaring production | Reuters

U.S. oil retreats from 2019 high on soaring production | Reuters:

U.S. crude futures eased slightly on Friday after hitting a 2019 high, as worries about the global economy and robust U.S. production put a brake on prices.

West Texas Intermediate (WTI) crude oil futures settled down 9 cents at $58.52 a barrel, having hit their highest so far this year at $58.95.

Brent crude futures settled down 7 cents at $67.16 a barrel, below their 2019 peak of $68.14 reached on Thursday.

U.S. crude ended the week 4.1 percent higher, and Brent was up 1.9 percent.