Oil prices retreat from near six-month highs as traders take profits after a rally fueled by strikes on Saudi energy infrastructure

Crude prices fell from near six-month peaks as traders took profits during early GMT sessions, following a sharp rally fueled by recent strikes targeting Saudi Arabian energy infrastructure.

The rally had lifted weekly gains to 6% for Brent crude and more than 2% for West Texas Intermediate. Diplomatic maneuvers offered temporary relief to expectations of tight international supply.

U.S. West Texas Intermediate futures dropped $1.76 to $101.51 a barrel, while Brent crude fell $1.49 to $115.23.