Benchmark crude for April delivery was up $1.69 to $106.11 a barrel, the highest since September 2008, at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract gained $2.51 to settle at $104.42 a barrel on Friday.
In London, Brent crude for April delivery was up $1.23 to $117.20 a barrel on the ICE Futures exchange.
Over the weekend, supporters and opponents of Libyan leader Moammar Gadhafi fought in several cities, heightening fears that the country is headed for a protracted civil conflict. Libya's oil output has fallen by at least 1 million barrels per day from 1.6 million since the uprising began last month.
Citigroup said it raised its 2011 average forecast for Brent crude to $105 from $90, but doesn't expect this year's violent protests in North Africa and the Middle East to spread to Snewsmatic.com">audi Arabia, the world's largest oil exporter.
"We assume that output disruption is maintained through the second quarter," Citigroup said in a report. "Output disruption, or at least the threat of, will support a fear premium for the rest of 2011."
In other Nymex trading in April contracts, heating oil rose 2 cents to $3.11 a gallon, and gasoline gained 3 cents to $3.08 a gallon. Natural gas futures were down 4.1 cents at $3.77 per 1,000 cubic feet.
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