Oil prices are on the rise yet again. The aftermath of bombing raids in Libya by western coalition forces sent prices up overnight. And with uncertainty abounding, analysts say more and more investors could look to the safe haven investment of gold.

The spike in global crude oil prices came after the Libyan National Oil Cooperation said production over the weekend dropped below 400 thousand barrels a day. That's compared to a normal daily output of around 1.7 million barrels.

Despite the Cooperation now looking for new oil partners, some research firms predict crude could soon hit 200 U.S. dollars a barrel. Vandana Hariof Platts says the market faces many potential uncertainties, considering the conflict could impact up to a third of global oil supply.

Meanwhile, global gold prices are also tumbled following Japan's natural disasters and Libya's conflict. Market observers predict world gold prices may shoot up to around 1,480 U.S. dollars per ounce.

Some analysts also predict, as the impact of the Libya unrest spreads wider, global commodity prices and stock markets are also likely face drastic tumbles in the short term.

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