After an early jump prompted by China's currency move Crude oil prices settled near $77 per barrel Monday on the New York Mercantile Exchange.

It would allow some flexibility in the renminbi, China said on Saturday.

The renminbi (or yuan) appreciated to the highest level against the dollar in 20 months after Saturday's announcement, which gives a boost to oil exporters to China.

It has been reported that July delivery crude oil prices reached $78.78 per barrel early Monday, but crude oil prices and a rally in equity markets both cooled as the day progressed.

Crude oil dropped to $77.25 late in late-afternoon trading.

Heating oil prices for July delivery lost 0.0101 cents from a prior settlement to $2.1358 per gallon.

Dropping 0.0078 cents, reformulated gasoline blend-stock prices went down to $2.134 per gallon.

It has also been reported that Henry Hub natural gas prices rose 0.007 cents to a recent settlement to $4.88 per million British thermal units.

According to reports of AAA, the national average price for unleaded regular gasoline at the pump rose to $2.734 per gallon from Sunday's $2.698. (With Inputs from Agencies)