Oil prices retreated on Monday after reaching near six-month highs late last week, though supply concerns persisted due to ongoing attacks in Saudi Arabia. US crude futures dropped $1.60, or 1.55%, to $101.67 per barrel by 0018 GMT, while Brent crude futures fell $1.56, or 1.34%, to $115.16.
The decline came after prices surged nearly $3 on Friday following Houthi attacks in Saudi Arabia, which raised fears of disrupted energy supplies. Brent crude ended the week up 6%, and WTI gained 2.3%.
Attacks continued over the weekend, with the Houthis claiming responsibility for strikes on Saudi oil facilities and an airport on Saturday. Saudi Arabia reported intercepting more missiles and drones on Sunday.