Oil prices were up on Thursday as growing unrest in key Middle East oil producing countries irked investors' concerns. They were worried that it could signal another threat to global supplies, after Libya's Muammar Gaddafi ordered airstrikes near Libyan oil facilities.

US crude rose 31 cents to $102.54, after hitting a high of $102.94. It had settled at $102.23 a barrel in the previous session, settling above $100 for the first time since September 2008.

Brent crude rose 23 cents to $116.58 per barrel. Brent had settled 93 cents higher at $116.35 a barrel, the highest settlement since August 21, 2008, and traded as high as $117.81 during the previous session.

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