Commodities-energy-oil-price-Asia lead

SINGAPORE: Brent crude prices rose past $100 in Asia on Monday as major regional equities clocked strong performances in their first trading day since the start of the Chinese New Year, analysts said.

New York's main future contract, light sweet crude for March, was up 24 cents to $89.27 per barrel.

Brent North Sea crude for delivery in March advanced 42 cents to $100.25 in the afternoon.Buoyant openings of major Asian equities markets, in particular Japan's Nikkei, boosted crude prices, said Ong Yi Ling, investment analyst for Phillip Futures in Singapore."The Japan Nikkei rose to a nine-month high on Monday. and there was an increase in investors' risk sentiment," she told AFP.

Financial markets in Hong Kong, Malaysia, Singapore and South Korea reopened Monday after a hiatus due to the long weekend."Oil was also supported by optimism in the US recovery. Recent economic data have pointed to a stronger growth momentum," Ong said.The United States is the world's biggest oil-consuming nation.

Investors were also watching fresh developments in Egypt, where protesters are demanding President Hosni Mubarak step down, analysts said.While Egypt is not a major crude producer, the country is home to the Suez Canal, which carries about 2.4 million barrels daily, roughly equal to Iraq's output.Traders are concerned about the wider ramifications of the events in Egypt on the oil-rich but politically volatile Middle East.

On Monday, Mubarak came under fresh pressure to quit immediately as opponents posing the biggest challenge to his 30-year rule said concessions made in landmark talks were insufficient.As the uprising entered a 14th day, central Cairo's Tahrir Square was still filled with anti-government protesters adamant that the start of dialogue with opposition groups would not divert their campaign to unseat Mubarak.