Oil prices top $105 a barrel

NEW YORK – Oil prices continued to set post-recession record highs Monday as forces loyal to Moammar Gadhafi pounded rebels near a key oil port in Libya. It’s unclear how long the country’s oil exports will be cut off, and traders prepared for a worst-case scenario in which world supplies would be under pressure for months.

On the New York Mercantile Exchange:

Crude: gained $1.02 to settle at $105.44 per barrel;

Gasoline: lost 4.25 cents to settle at $3.0039 per gallon

Associated Press