The price of North Sea oil (Brent) had risen by 2.3 percent to $107 per barrel by 5 p.m.
The escalation in the Middle East, including the deadly attacks on Saudi Arabia over the weekend, is also pushing prices up. Airstrikes by the Iran-backed Houthi movement continued on Monday.
Crude oil prices have risen gradually since the summer, and Brent appears to have remained well above $100 a barrel.