Meanwhile, Brent crude, the benchmark in Europe, Africa and the Middle East, sold for USD 110.23 on Thursday.
The Middle East and North Africa hold more than one-third of the world's oil.
Iran holds around 10 percent of global oil reserves. In 2009, Iran's revenue from oil exports reached $69.1 billion, as it produced approximately 3.8 million barrels per day.
A pro-democracy uprising has now engulfed Libya since Feb 15.
Also in Yemen, mass pro-democracy protest rallies has left scores dead and injured, threatening the rule of its US-baked President Ali Abdullah Saleh.
In Bahrain as well, at least seven people have been killed in 11 consecutive days of popular protests calling for the ouster of the Al-Khalifa dynasty, which has ruled the country for over 200 years.