Oil prices slipped from 2019 highs on Thursday, as U.S. government data showed a fifth weekly build in crude inventories and record production, while concerns about slowing global economic growth weighed.
Losses were capped by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran. Advancements in Washington-Beijing trade deal discussions also supported prices.
U.S. West Texas Intermediate crude oil futures ended Thursday's session 20 cents lower at $56.96 a barrel. WTI hit a fresh three-month high of $57.61 earlier in the day.
Brent crude futures fell by 13 cents to $66.95 around 2:25 p.m. ET, after touching a 2019 peak on Wednesday at $67.38.