Oil prices break through $93 mark

Traders are watching developments on the Turkish border

Oil prices have risen to fresh highs due to a combination of the weak dollar, supply concerns in Mexico and continued tensions in northern Iraq.
In early Asian trading on Monday, US light crude broke through $93 a barrel for the first time, hitting $93.20 before easing back slightly to $93.06.

London's Brent also hit a new high of $89.90 a barrel, up $1.21.

Some analysts believe oil prices will hit $100 a barrel before the end of 2007 if current pressures persist.