Global oil prices soared to the highest levels this year on Monday as the Ukraine crisis fuelled concerns about global energy supplies, analysts said.

Global oil prices soared to the highest levels this year on Monday as the Ukraine crisis fuelled concerns about global energy supplies, analysts said.

Brent North Sea crude for delivery in April rocketed $2.04 to stand at $111.11 a barrel in late London deals. It earlier spiked to $112.39, the highest point since December 30, 2013.

New York's main contract, West Texas Intermediate (WTI) for April, jumped $1.81 to $104.40 a barrel. It earlier reached $105.22, which was a five-month high.

"The on-going uncertainty in Ukraine has caused further upside momentum to the oil market amid concerns about oil production issues," said Myrto Sokou, senior research analyst at Sucden brokers in London.

"Russia is the world's biggest oil producing country, so any political uncertainty could raise serious concerns about oil supplies issues worldwide."