Global oil prices continued their journey towards north in Asian trade Wednesday as New York oil prices crossed the coveted $100 a barrel mark after fresh protests are reported fom Iran, OPEC's second largest crude oil producer.
Light sweet crude for April delivery was seen trading at $100.14 a barrel at 12.30 p.m Singapore time while Brent crude was at $115.57 a barrel in London.
Analysts said Middle East crisis might reach a new turn if Iran joined troubled states as the country is the second largest crude producer among OPEC countries and also the fourth largest in the world.
Reports of demonstrations in Iran stoked concern the turmoil spreading across the Middle East may disrupt supplies from OPEC's second-largest producer.
Analysts said the black gold was also aided after Asian stocks fell for the first time in four days.
On Tuesday, oil prices climbed as Benchmark West Texas Intermediate for April delivery gained $2.66 to settle at $99.63 a barrel on the New York Mercantile Exchange.
In London, Brent crude gained $3.62 to settle at $115.42 per barrel on the ICE Futures exchange.
