Crude oil futures slipped on Monday as investors cashed in some profits from last week's strong rise, but concerns about Saudi-Iran tensions kept losses in check.
U.S. West Texas Intermediate (WTI) crude futures ended Monday's session down 33 cents to $65.55, backing down from the session peak of $66.55, which was just a few cents shy of a more than three-year high.
Brent crude futures were down 25 cents at $70.20 a barrel at 2:27 p.m. ET. The contract earlier rose to $71.05, the highest level since Jan. 25, when Brent hit a three-year high of $71.28.
Last week, Brent gained 6.4 percent and WTI rose 5.7 percent, the strongest weekly gains since July.
"I don't see anything extraordinarily bearish in the market today. I think some folks here are just...happy to take profits," said Bob Yawger, director of energy futures at Mizuho in New York.