New York:Oil prices experienced a decline on Monday after reaching near six-month highs late last week.

According to Wam, US crude futures decreased by $2.14, or 2.07 percent, to $101.13 per barrel as of 0232 GMT. Meanwhile, Brent crude futures fell by $2.12, or 1.82 percent, to $114.60.

Last Friday, oil prices had settled nearly $3 higher, with Brent ending the week up by 6 percent and WTI (West Texas Intermediate) rising by 2.3 percent.