Oil prices retreat after recent solid gains

New York:Oil prices snapped a three-day winning streak to end lower as traders were looking for excuses to lock in profits. The West Texas Intermediate for July delivery on Thursday fell 67 cents to settle at $50.56 a barrel on the New York Mercantile Exchange, while Brent crude for August delivery lost 56 cents to close at $51.95 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.