Oil Prices Decline After Reaching Near Six-Month Highs

Oil prices declined on Monday after reaching levels near six-month highs late last week, despite ongoing tensions in the Middle East that kept supply concerns in focus. US crude oil futures dropped by $2.14, or 2.07%, to $101.13 per barrel at 02:32 GMT. Brent crude futures also fell by $2.12, or 1.82%, to $114.60. Prices had risen by about $3 at Friday's close due to worries over energy supplies. Brent crude finished the week up 6%, while West Texas Intermediate crude increased by 2.3%.