Oil prices dropped Monday on profit- taking after U.S. oil price reached a 14-month high last Friday. The stronger than expected U.S. June job data last Friday sent the U.S. oil price to the highest level since last May. No economic data were released Monday, which left market fumbling without clear direction. Total nonfarm payroll employment increased by 195,000 in June, and the unemployment rate was unchanged at 7.6 percent, the U.S. Labor Department said Friday. The fresh figures far exceeded economists\' estimates of creating 165,000 jobs, but the jobless rate fell slightly short of their forecast of 7.5 percent. The flat unemployment rate reflected higher work-force participation rate, which stood at 63. 5 percent in June compared with 63.4 percent in May on a seasonally adjusted basis. Traders are watching closely the situation in Egypt. The oil market found some comfort as an official said the Suez Canal is \" secure\" and ship traffic through it is \"normal\" Monday. Light, sweet crude for August delivery dropped 8 cents, to settle at 103.14 dollars a barrel on the New York Mercantile Exchange. Brent for August delivery went down 29 cents, to close at 107. 43 dollars a barrel.