Oil prices retreat from near six-month highs

Oil prices fell on Monday after surging to near six-month highs late last week.

US crude futures were down US$2.14, or 2.07 percent, at US$101.13 per barrel by 02:32 GMT. Brent crude futures were down US$2.12, or 1.82 percent, at US$114.60.

Prices had settled nearly US$3 higher on Friday. Brent finished the week up 6 percent and WTI ended 2.3 percent higher.