Oil prices retreated from 2015 highs Friday as the dollar strengthened and traders assessed the still oversupplied global crude market. Light, sweet crude for June delivery settled down 48 cents, or 0.8%, at $59.15 a barrel on the New York Mercantile Exchange. Prices rose 3.5% on the week. Brent crude, the global benchmark, fell 32 cents, or 0.5%, to $66.46 a barrel on ICE Futures Europe. The contract gained 1.8% this week. The dollar rose against other major currencies Friday on positive U.S. economic data. Oil is priced in dollars, so a stronger dollar makes oil less affordable to buyers using foreign currencies. Oil prices have surged in recent weeks after falling to six-year lows in March as traders bet that the global glut of crude would soon shrink due to stronger demand and reduced spending on new production. But some analysts caution that the rally […]