Oil slips nearly $1 after six‑month highs

Oil prices fell by nearly $1 in early Monday trading, pulling back from their highest levels in almost six months. By 23:15 GMT, U.S. crude futures were down 99 cents, or 0.96%, at $102.28 per barrel, while Brent crude (UKOUSD) futures were lower by 93 cents, or 0.8%, at $115.79. The move marked a reversal after a strong prior session and came as markets reassessed recent gains.

The decline left U.S. crude futures just above the $102 mark, with the 99‑cent drop translating into a 0.96% fall on the day by late evening GMT. Brent crude futures, the global benchmark, traded at $115.79 per barrel after a 93‑cent decrease, equivalent to a 0.8% loss. Despite the pullback, both contracts remained at historically elevated nominal price levels, reflecting the recent run‑up toward six‑month highs.

The early‑session weakness followed a notable surge in the previous trading day, when oil prices had settled nearly $3 higher. That earlier advance was driven by concern over energy supply after Houthi attacks in Saudi Arabia. The combination of that jump and the subsequent modest decline left markets adjusting to the new higher trading range while easing some of the immediate upward pressure on prices.

Monday’s move lower unfolded shortly after the market opened, indicating selling interest as trading began for the new week. Both U.S. and Brent benchmarks moved in tandem, each posting sub‑1% losses that contrasted with the larger price rise recorded in the prior session. The latest trading levels and percentage changes underscored a cooling in bullish momentum while keeping attention on underlying supply risks that recently pushed prices to multi‑month highs.