Oil futures ended lower on Friday, pressured by reports that Iraq’s crude exports rose to a 30-year high as production from the Organization of the Petroleum Exporting Countries stood at its highest level since late 2012.June crude CLM5, -0.62% lost 48 cents, or 0.8%, to settle at $59.15 a barrel on the New York Mercantile Exchange. Prices had finished April with a 25% surge.
Meanwhile, Brent crude for June delivery LCOM5, -0.40% on London’s ICE Futures exchange—the global benchmark—fell 32 cents, or 0.5%, to $66.46 a barrel. Brent futures rose 1.8% from last Friday’s close. This was their fourth straight weekly win.
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