Nigerian violence has contributed to the price hikes.
Crude oil prices for the first time break the 100-dollar per barrel record due to supply concerns and fresh clashes in Nigeria.
A barrel of light sweet crude for February delivery briefly reached $100 in New York Wednesday, soaring $4.02 per barrel. The prices, however, slipped back to $99.27 a barrel.
London's Brent North Sea crude for February delivery climbed to a record $97.05 a barrel.
The rise in oil prices caused stocks to drop and gold soared $22.10 to $857 an ounce, its highest since 1980.
Fresh clashes in oil-rich Nigeria, concerns over drop in US oil-inventory and cold winter weather in northern hemisphere have pushed prices of oil and gold to record highs.