Oil prices rose on Thursday on continued unrest in Egypt and tighter North Sea supplies.

US crude for March gained 19¢ to stand at $86.91 a barrel at 11.07 ET, while ICE Brent rose 24¢ to $102.06 a barrel, reports Reuters.

Fears remain among investors that the turmoil in Tunisia and Egypt could trigger similar protests in major oil-producing nations such as Libya and Saudi Arabia.

According to analysts, the difference between the two crude oil benchmarks will stay wide apart because the Egypt crisis and tighter European supplies will push Brent prices up faster over WTI.

Output from the four benchmark North Sea crude oil streams is expected to decline in March to around 1.13 million barrels per day from 1.22 million barrels per day this month.

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By GlobalData