NEW YORK (CNNMoney) -- Oil prices continued to trend up Friday, after ending the first quarter at a two-and-a-half-year high, and most experts think that will remain the case for the foreseeable future.
"Oil is going stay stay firm," said Paul Colby, senior vice president at Planalytics. "It'll probably go even higher."
Crude prices have been volatile over the past three months, as unrest in the Arab world continues to spark worries about potential production disruptions.
Oil prices topped $100 a barrel in February amidst protests in Egypt and Tunisia. The civil war in Libya, Africa's third largest oil producer, also pushed prices higher.
The earthquake and tsunami in Japan, which hosts the world's third largest economy, continued to underpin already nervous sentiment.
On Friday, crude oil settled up $1.22 at $107.94 a barrel.
"Today the fundamentals are still very bullish, and we should continue to go higher." said PFG Best senior market analyst Phil Flynn. "The Middle East situation is not calming down any time," he added.
Flynn attributes the bullish April outlook to higher demand for better quality crude during the switchover period from the end of winter heating season to the summer driving season.
"I hate to give you a bad April fools joke, but the month of April is a very bullish month for oil prices," Flynn said.
The weaker U.S. dollar is also playing a role in the price rise since most commodities, including oil, are priced in dollars.
And the Fed is expected to keep interest rates low -- a move that would keep the dollar weak.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.01%||4.03%|
|15 yr fixed||3.12%||2.97%|
|30 yr refi||4.04%||4.09%|
|15 yr refi||3.15%||3.05%|
Today's featured rates:
UPS and FedEx employ teams of meteorologists whose nightmare is a "big snow or ice storm at one of our hubs" during the peak holiday shipping season. More
Unilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Best Foods and Hellman's mayonnaise has now dropped the lawsuit. More
Retired union workers could see their pensions cut under a controversial new law, but many say they're not sure how they'll make ends meet if big cuts go through. More