A day after Singapore's consumer watchdog urged fuel companies here to «exercise restraint» in raising prices pre-emptively, China-headquartered Sinopec kicked off a fourth consecutive day of price hikes on Thursday (March 12) morning.Oil prices had surged the same morning, with Brent crude futures crossing US$100 (S$128) a barrel despite the International Energy Association's pledge to make 400 million barrels of oil available from its members' stockpiles. Meanwhile, Iran's military command said on Wednesday that the world should be prepared for oil to hit US$200 a barrel, as three ships came under attack in the blockaded Strait of Hormuz on the same day. Read more