Crude oil prices in New York briefly surged above 99 dollars per barrel on Sunday following the decision by western countries to block some Russian banks from the SWIFT global payment network.

Traders are concerned that Russian exports of crude oil could be disrupted by further economic sanctions.

WTI futures, an international indicator of crude oil prices, briefly jumped to the 99-dollar level, up significantly from the 91-dollar level at the end of last week's trading.

Brent crude oil futures temporarily surpassed 105 dollars per barrel in London on Sunday. The benchmark had been trading at the 97-dollar level on Friday.

Market analysts say investors are worried that excluding Russian banks from the SWIFT network may hamper settlements for crude oil shipments from that country.

They say investors are waiting for more details of the sanctions to emerge.