SINGAPORE (Reuters) -- Oil prices fell more than one percent on Monday in Asia, as dealers cashed in on a rally that had taken prices to eight-month highs late last week.

New York crude January crude futures fell 35 cents to $31.26 a barrel, while Brent crude oil was down 32 cents at $29.04.

U.S. crude prices climbed to $33.55 a barrel on Thursday, the highest since before the U.S.-led attack on Iraq in March, after a second round of bomb attacks in Turkey.

A spate of bombings in the Middle East, the heart of world oil production, has added to concerns about how the terror attacks would impact oil supplies.

OPEC could come under renewed pressure to release more oil into the market if its reference price stays above the top end of its preferred range of $22-$28.

The reference price was $29.45 a barrel on Thursday, marking the 10th consecutive day it had been above $28.

OPEC has an informal policy allowing it to raise production should prices stay above $28 for 20 consecutive days, which would coincide with its December 4 meeting in Vienna.